Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 04, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Advanced Disposal Services, Inc. | ||
Entity Central Index Key | 1,585,790 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 1,000 | ||
Entity Public Float | $ 0 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash and cash equivalents | $ 0.6 | $ 1 |
Accounts receivable, net of allowance for doubtful accounts of $4.4 and $5.0, respectively | 177.5 | 188 |
Prepaid expenses and other current assets | 33.4 | 34.2 |
Deferred income taxes | 0 | 14.6 |
Total current assets | 211.5 | 237.8 |
Restricted cash | 0 | 0.2 |
Other assets, net | 22.9 | 40.8 |
Property and equipment, net | 1,649.9 | 1,663.9 |
Goodwill | 1,173.5 | 1,166.9 |
Other intangible assets, net | 364.5 | 379.9 |
Total assets | 3,422.3 | 3,489.5 |
Current liabilities | ||
Accounts payable | 98.1 | 94.7 |
Accrued expenses | 135.7 | 130.7 |
Deferred revenue | 63.1 | 60 |
Current maturities of landfill retirement obligations | 30.2 | 29.2 |
Current maturities of long-term debt | 49.1 | 25.3 |
Total current liabilities | 376.2 | 339.9 |
Other long-term liabilities | 55.8 | 61.2 |
Long-term debt, less current maturities | 2,198 | 2,217.7 |
Accrued landfill retirement obligations, less current maturities | 163.5 | 171.9 |
Deferred income taxes | 139 | 169.9 |
Total liabilities | 2,932.5 | 2,960.6 |
Stockholder's equity | ||
Common stock: $.01 par value, 1,000 shares authorized, 1,000 shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 1,101 | 1,105 |
Accumulated other comprehensive income | 0 | 1.5 |
Accumulated deficit | (611.2) | (577.6) |
Total stockholder's equity | 489.8 | 528.9 |
Total liabilities and stockholder's equity | $ 3,422.3 | $ 3,489.5 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts receivable | $ 4.4 | $ 5 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares issued (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 1,000 | 1,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | |||
Service revenues | $ 1,396.4 | $ 1,403 | $ 1,319.1 |
Operating costs and expenses | |||
Operating expenses (exclusive of items shown separately below) | 866.6 | 896.1 | 832.8 |
Selling, general and administrative | 152.6 | 154.9 | 170.9 |
Depreciation and amortization | 259.1 | 271.4 | 278.9 |
Acquisition and development costs | 1.4 | 0.1 | 1.2 |
Loss on disposal of assets and asset impairments | 21.6 | 6.5 | 3.2 |
Restructuring charges | 0 | 4.6 | 10 |
Total operating costs and expenses | 1,301.3 | 1,333.6 | 1,297 |
Operating income | 95.1 | 69.4 | 22.1 |
Other (expense) income | |||
Interest expense | (138) | (141.5) | (163.1) |
Other, net | (10.1) | (25.9) | 0.3 |
Total other expense | (148.1) | (167.4) | (162.8) |
Loss from continuing operations before income taxes | (53) | (98) | (140.7) |
Income tax benefit | (19.4) | (80.6) | (45.4) |
Loss from continuing operations | (33.6) | (17.4) | (95.3) |
Discontinued operations | |||
Loss from discontinued operations before income tax | 0 | (0.7) | (29.6) |
Income tax benefit | 0 | (1) | (7.1) |
Discontinued operations, net | 0 | 0.3 | (22.5) |
Net loss | $ (33.6) | $ (17.1) | $ (117.8) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net loss | $ (33.6) | $ (17.1) | $ (117.8) |
Other comprehensive (loss) income, net of tax Market value adjustments for hedges | (1.5) | (1) | 4.7 |
Other comprehensive (loss) income | (1.5) | (1) | 4.7 |
Comprehensive loss | $ (35.1) | $ (18.1) | $ (113.1) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interests |
Balance, Amount at Dec. 31, 2012 | $ 662.5 | $ 1,104.9 | $ (442.7) | $ (2.2) | $ 2.5 | |
Balance, Shares at Dec. 31, 2012 | 1,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net loss | (117.8) | (117.8) | ||||
Unrealized gain resulting from change in fair value of derivative instruments, net of tax | 4.7 | 4.7 | ||||
Acquisition of noncontrolling interest | (2.5) | (2.5) | ||||
Stock-based compensation expense | 4.6 | 4.6 | ||||
Balance, Amount at Dec. 31, 2013 | 551.5 | 1,109.5 | (560.5) | 2.5 | 0 | |
Balance, Shares at Dec. 31, 2013 | 1,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net loss | (17.1) | (17.1) | ||||
Unrealized gain resulting from change in fair value of derivative instruments, net of tax | (1) | (1) | ||||
Stock-based compensation expense | 4.5 | 4.5 | ||||
Capital contribution from parent | 0 | 0 | ||||
Return of capital to parent | (9) | (9) | ||||
Balance, Amount at Dec. 31, 2014 | 528.9 | 1,105 | (577.6) | 1.5 | 0 | |
Balance, Shares at Dec. 31, 2014 | 1,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net loss | (33.6) | (33.6) | ||||
Unrealized gain resulting from change in fair value of derivative instruments, net of tax | (1.5) | (1.5) | ||||
Stock-based compensation expense | 3.1 | 3.1 | ||||
Capital contribution from parent | 0.4 | 0.4 | ||||
Return of capital to parent | (7.5) | (7.5) | ||||
Balance, Amount at Dec. 31, 2015 | $ 489.8 | $ 1,101 | $ (611.2) | $ 0 | $ 0 | |
Balance, Shares at Dec. 31, 2015 | 1,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities | |||
Net loss | $ (33.6) | $ (17.1) | $ (117.8) |
Adjustments to reconcile net loss to net cash provided by operating activities | |||
Depreciation and amortization | 259.1 | 271.7 | 284.8 |
Amortization of option/interest rate cap premium | 1.5 | 2.1 | 1.3 |
Amortization of terminated derivative contracts | 0 | 0 | 6 |
Interest accretion loss contracts, other debt and long-term liabilities | 2.7 | 2.2 | 2.7 |
Amortization of debt issuance costs | 14.4 | 15.1 | 12.6 |
Accretion of original issue discount | 5.1 | 4.9 | 5 |
Accretion on landfill retirement obligations | 13.1 | 13.5 | 15 |
Provision for doubtful accounts | 4 | 4.2 | 7.7 |
Loss on sale of property and equipment | 4.7 | 0.8 | 2.6 |
Gain on redemption of security | (2.5) | 0 | 0 |
Share based compensation | 3.1 | 4.5 | 4.6 |
Change in fair value of derivative instruments | (11.1) | 27.3 | 0 |
Amortization of other long-term assets | 0 | 0.3 | 0 |
Deferred tax benefit | (21.6) | (84.5) | (57) |
Earnings in equity investee | (1.3) | (0.1) | (0.3) |
Asset impairment | 6.4 | 5.3 | 25.5 |
Loss on disposition of business | 10.5 | 0 | 0 |
Changes in operating assets and liabilities, net of businesses acquired | |||
Decrease (increase) in accounts receivable | 8.3 | 1.7 | (5.1) |
Decrease (increase) in prepaid expenses, parts and supplies, and other current assets | 1.1 | 1.3 | (2.8) |
Decrease (increase) in other assets | 3.9 | 2.9 | (1.1) |
(Decrease) increase in accounts payable | (2.8) | 3.8 | 5.7 |
Increase (decrease) in accrued expenses | 3.9 | (6.6) | (0.3) |
(Decrease) increase in unearned revenue | (0.5) | (1.7) | 4.6 |
(Decrease) increase in other long-term liabilities | (3.5) | 5.4 | (1.4) |
Capping, closure and post-closure expenditures | (20.4) | (13.8) | (12) |
Net cash provided by operating activities | 244.5 | 243.2 | 180.3 |
Cash flows from investing activities | |||
Purchases of property and equipment and construction and development | (179.7) | (196.4) | (158.1) |
Proceeds from sale of property and equipment | 2.6 | 3 | 3.4 |
Proceeds from redemption of securities | 15 | 0 | 5 |
Repayments of notes receivable | 0 | 0 | 0.1 |
Acquisition of businesses, net of cash acquired | (50) | (9.9) | (50.4) |
Proceeds from disposition of businesses | 14.7 | 2.1 | 45.2 |
Net cash used in investing activities | (197.4) | (201.2) | (154.8) |
Cash flows from financing activities | |||
Proceeds from borrowings on debt instruments | 114 | 95 | 184 |
Repayments on debt instruments | (153.4) | (141.3) | (196.8) |
Deferred financing charges | (0.2) | (1.3) | (22.9) |
Bank overdraft | 1.2 | 1.4 | (3.3) |
Return of capital | (7.5) | (9) | 0 |
Capital contributions from parent | 0.4 | 0 | 0 |
Other financing activities | (2) | 2.2 | 6.7 |
Net cash used in financing activities | (47.5) | (53) | (32.3) |
Net decrease in cash and cash equivalents | (0.4) | (11) | (6.8) |
Cash and cash equivalents, beginning of year | 1 | 12 | 18.8 |
Cash and cash equivalents, end of year | $ 0.6 | $ 1 | $ 12 |
Business Operations
Business Operations | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Operations | Business Operations Advanced Disposal Services, Inc. (formerly "ADS Waste Holdings Inc." hereafter referred to as the "Company") together with its consolidated subsidiaries, as a consolidated entity, is a regional environmental services company providing nonhazardous solid waste collection, transfer, recycling and disposal services to customers in the Southeast, Midwest and Eastern regions of the United States, as well as in the Commonwealth of the Bahamas. The Company currently manages and evaluates its principal operations through three reportable operating segments on a regional basis. Those operating segments are the South, East and Midwest regions which provide collection, transfer, disposal (in both solid waste and non-hazardous waste landfills), recycling services and billing services. Additional information related to our segments can be found in Note 22. Twelve acquisitions were completed during fiscal 2015 for aggregate prices consisting of cash of $49.7 and notes payable of $6.6 subject to net working capital adjustments, which are expected to be completed within one year. Eight acquisitions were completed during fiscal 2014 for a purchase price of $8.6 . The results of operations of each acquisition are included in the Company's consolidated statements of operations subsequent to the closing date of each acquisition. The Company disposed of certain businesses in the South segment for strategic reasons in June 2015 and recorded a loss on disposal of $10.9 for fiscal 2015. In connection with the sale, the Company impaired property and equipment and intangible assets in the amount of $4.3 for fiscal 2015. Further, the Company strategically concluded not to pursue permitting on a landfill site and therefore recorded a non-cash impairment charge of $2.1 primarily for permitting costs in fiscal 2015. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The Company’s consolidated financial statements include its wholly-owned subsidiaries of Advanced Disposal Services South, Inc. and HWStar Holdings Corp. and their respective subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates In preparing its financial statements that conform with accounting principles generally accepted in the United States of America, the Company uses estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. The Company must make these estimates and assumptions because certain information is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. In preparing its financial statements, the more subjective areas that deal with the greatest amount of uncertainty relate to accounting for long-lived assets, including recoverability, landfill development costs, and final capping, closure and post-closure costs, valuation allowances for accounts receivable and deferred tax assets, liabilities for potential litigation, claims and assessments, liabilities for environmental remediation, stock compensation, accounting for goodwill and intangible asset impairments, deferred taxes, uncertain tax positions, self-insurance reserves, and estimates of the fair values of assets acquired and liabilities assumed in any acquisition. Each of these items is discussed in more detail elsewhere in these Notes to the Consolidated Financial Statements. The Company's actual results may differ significantly from our estimates. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents includes cash on hand, bank demand deposit accounts, and overnight sweep accounts. Cash equivalents include highly liquid investments with original maturities of three months or less when purchased. Restricted Cash Restricted cash consists of amounts held for landfill closure and post-closure financial assurance. The balances will fluctuate based on changes in statutory requirements, future deposits made to comply with contractual arrangements, ongoing use of funds for qualifying events or the acquisitions or divestitures of landfills. Parts and Supplies Inventory Parts and supplies consist primarily of spare parts, fuel, tires, lubricants and processed recycled materials. Parts and supplies are stated at the lower of cost or market value utilizing an average cost method and are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets. Revenue Recognition The Company recognizes revenues as the services are provided. Revenue is recognized as waste is collected, as tons are received at the landfill or transfer stations, as recycled commodities are delivered to a customer, or as services are rendered to customers. Certain customers are billed and pay in advance and, accordingly, recognition of the related revenues is deferred until the services are provided. Revenues are reported net of applicable state landfill taxes. Trade Receivables The Company records trade receivables when billed or when services are performed, as they represent claims against third parties that will generally be settled in cash. The carrying value of receivables, net of the allowance for doubtful accounts, represents the estimated net realizable value. The Company estimates losses for uncollectible accounts based on an evaluation of the aged accounts receivable and the likelihood of collection of the receivable based on historical collection data and existing economic conditions. If events or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the collectability of those balances. Insurance Reserves The Company uses a combination of insurance with high deductibles and self-insurance for various risks including workers compensation, vehicle liability, general liability and employee group health claims. The exposure for unpaid claims and associated expenses, including incurred but not reported losses, is estimated by factoring in pending claims and historical trends data and other actuarial assumptions. In estimating our claims liability, we analyze our historical trends, including loss development and apply appropriate loss development factors to the incurred costs associated with the claims. The discounted estimated liability associated with settling unpaid claims is included in accrued expenses and other long-term liabilities in the consolidated balance sheets. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, accounts receivable and derivative instruments. The Company maintains cash and cash equivalents with banks that at times exceed applicable insurance limits. The Company reduces its exposure to credit risk by maintaining such deposits with high quality financial institutions. The Company has not experienced any losses in such accounts. The Company generally does not require collateral on its trade receivables. Credit risk on accounts receivable is minimized as a result of the large and diverse nature of the Company’s customer base and its ability to discontinue service, to the extent allowable, to non-paying customers. No single customer represented greater than 5% of total accounts receivable at December 31, 2015 and 2014 , respectively. Asset Impairments The Company monitors the carrying value of its long-lived assets for potential impairment and test the recoverability of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. These events or changes in circumstances, including management decisions pertaining to such assets, are referred to as impairment indicators. Typical indicators that an asset may be impaired include (i) a significant adverse change in legal factors in the business climate, (ii) an adverse action or assessment by a regulator, and (iii) a significant adverse change in the extent or manner in which a long-lived asset is being utilized or in its physical condition. If an impairment indicator occurs, the Company performs a test of recoverability by comparing the carrying value of the asset or asset group to its undiscounted expected future cash flows. If cash flows cannot be separately and independently identified for a single asset, the Company will determine whether an impairment has occurred for the asset group for which it can identify the projected cash flows. If the carrying values are in excess of undiscounted expected future cash flows, the Company measures any impairment by comparing the fair value of the asset or asset group to its carrying value. Fair value is generally determined by considering (i) internally developed discounted projected cash flow analysis of the asset or asset group; (ii) third-party valuations; and/or (iii) information available regarding the current market for similar assets. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying value exceeds the fair value of the asset. Property and Equipment, Net Property and equipment are recorded at cost, less accumulated depreciation. Expenditures for major additions and improvements are capitalized and maintenance activities are expensed as incurred. When property and equipment are retired, sold, or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the results of operations. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. Depreciation expense is calculated using the straight-line method over the estimated useful lives or the lease term, whichever is shorter. Estimated useful lives are as follows: Years Vehicles 5–10 Machinery and equipment 3–10 Containers 5–15 Furniture and fixtures 5–7 Building and improvements 5–39 Leases The Company leases property and equipment in the ordinary course of its business. The most significant lease obligations are for property and equipment specific to the waste industry, including real property operated as landfills and transfer stations. The Company's leases have varying terms. Some may include renewal or purchase options, escalation clauses, restrictions, penalties or other obligations that are considered in determining minimum lease payments. The leases are classified as either operating leases or capital leases, as appropriate. The majority of the Company's leases are operating leases. This classification generally can be attributed to either (i) relatively low fixed minimum lease payments as a result of real property lease obligations that vary based on the volume of waste we receive or process or (ii) minimum lease terms that are much shorter than the assets’ economic useful lives. The Company expects that in the normal course of business, its operating leases will be renewed, replaced by other leases, or replaced with fixed asset expenditures. The Company's rent expense during each of the last three years and its future minimum operating lease payments for each of the next five years for which it is contractually obligated as of December 31, 2015 is disclosed in Note 14. Assets under capital leases are capitalized using interest rates determined at the inception of each lease and are amortized over the lesser of the useful life of the asset or the lease term, as appropriate, on a straight-line basis. The present value of the related lease payments is recorded as a debt obligation. From an operating perspective, landfills that are leased are similar to landfills the Company owns because generally the Company owns the landfill’s operating permit and will operate the landfill for the entire lease term, which in many cases is the life of the landfill. As a result, the Company's landfill leases are generally capital leases. For landfill capital leases that provide for minimum contractual rental obligations, the Company records the present value of the minimum obligation as part of the landfill asset, which is amortized on a units-of-consumption basis over the shorter of the lease term or the life of the landfill. The Company's one leased landfill was sold in fiscal 2013 as disclosed in Note 4. Landfill Accounting Costs Basis of Landfill Assets — Landfills are typically developed in a series of cells, each of which is constructed, filled and capped in sequence over the operating life of the landfill. When the final cell is filled and the operating life of the landfill is completed, the cell must be capped and then closed and post-closure care and monitoring activities begin. Capitalized landfill costs include expenditures for land (which includes the land of the landfill footprint and landfill buffer property and setbacks) and related airspace associated with the permitting, development and construction of new landfills, expansions at existing landfills, landfill gas systems and landfill cell development. Landfill permitting, development and construction costs represent direct costs related to these activities, including land acquisition, engineering, legal and construction. These costs are deferred until all permits are obtained and operations have commenced at which point they are capitalized and amortized. If necessary permits are not obtained, costs are charged to operations. The cost basis of our landfill assets also includes asset retirement costs, which represent estimates of future costs associated with landfill final capping, closure and post-closure activities. Final Capping, Closure and Post-Closure Costs — The following is a description of the Company's asset retirement activities and related accounting: Final Capping — Includes installing flexible membrane and geosynthetic clay liners, drainage and compact soil layers, and topsoil, and is constructed over an area of the landfill where total airspace capacity has been consumed and waste disposal operations have ceased. These final capping activities occur in phases as needed throughout the operating life of a landfill as specific areas are filled to capacity and the final elevation for that specific area is reached in accordance with the provisions of the operating permit. Final capping asset retirement obligations are recorded on a units-of-consumption basis as airspace is consumed related to the specific final capping event with a corresponding increase in the landfill asset. Each final capping event is accounted for as a discrete obligation and recorded as an asset and a liability based on estimates of the discounted cash flows and capacity associated with each final capping event. Closure and post-closure — These activities involve methane gas control, leachate management and groundwater monitoring, surface water monitoring and control, and other operational and maintenance activities that occur after the site ceases to accept waste. The post-closure period generally runs for 30 years or longer after final site closure for landfills. Landfill costs related to closure and post-closure are recorded as an asset retirement obligation as airspace is consumed over the life of the landfill with a corresponding increase in the landfill asset. Obligations are recorded over the life of the landfill based on estimates of the discounted cash flows associated with performing the closure and post-closure activities. The Company annually updates its estimates for these obligations considering the respective State regulatory requirements, input from our internal engineers, operations, accounting personnel and external consulting engineers. The closure and post-closure requirements are established under the standards of the U.S. Environmental Protection Agency’s Subtitle D regulations as implemented and applied on a state-by-state basis. These estimates involve projections of costs that will be incurred as portions of the landfill are closed and during the post-closure monitoring period. Capping, closure and post-closure costs are estimated assuming such costs would be incurred by a third party contractor in present day dollars and are inflated by the 25 -year average change in the historical Consumer Price Index ("CPI") (consistent historical rate which agrees to historical CPI per government website of 2.50% from 1990 to 2015) to the time periods within which it is estimated the capping, closure and post-closure costs will be expended. The Company discounts these costs to present value using the credit-adjusted, risk-free rate effective at the time an obligation is incurred, consistent with the expected cash flow approach. Any change that results in an upward revision to the estimated cash flows are treated as a new liability and discounted at the current rate while downward revisions are discounted at the historical weighted-average rate of the recorded obligation. As a result, the credit-adjusted, risk-free discount rate used to calculate the present value of an obligation is specific to each individual asset retirement obligation. The range of rates utilized within the calculation of the asset retirement obligations at December 31, 2015 is between 6.4% and 10.5% . The Company records the estimated fair value of the final capping, closure and post-closure liabilities for its landfills based on the capacity consumed in the current period. The fair value of the final capping obligations is developed based on the Company’s estimates of the airspace consumed to date for each final capping event and the expected timing of each final capping event. The fair value of closure and post-closure obligations is developed based on the Company’s estimates of the airspace consumed to date for the entire landfill and the expected timing of each closure and post-closure activity. Because these obligations are measured at estimated fair value using present value techniques, changes in the estimated cost or timing of future final capping, closure and post-closure activities could result in a material change in these liabilities, related assets and results of operations. The Company assesses the appropriateness of the estimates used to develop our recorded balances annually, or more often if significant facts change. Changes in inflation rates or the estimated costs, timing or extent of future final capping, closure and post-closure activities typically result in both (i) a current adjustment to the recorded liability and landfill asset; and (ii) a change in liability and asset amounts to be recorded prospectively over either the remaining capacity of the related discrete final capping event or the remaining permitted and expansion airspace (as defined below) of the landfill. Any changes related to the capitalized and future cost of the landfill assets are then recognized in accordance with the Company's amortization policy, which would generally result in amortization expense being recognized prospectively over the remaining capacity of the final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Changes in such estimates associated with airspace that has been fully utilized result in an adjustment to the recorded liability and landfill assets with an immediate corresponding adjustment to landfill airspace amortization expense. Interest accretion on final capping, closure and post-closure liabilities is recorded using the effective interest method and is recorded in operating expenses in the consolidated statements of operations. Amortization of Landfill Assets — The amortizable basis of a landfill includes (i) amounts previously expended and capitalized; (ii) capitalized and projected landfill final capping, closure and post-closure costs; (iii) projections of future acquisition and development costs required to develop the landfill site to its remaining permitted and expansion capacity; and (iv) land underlying both the footprint of the landfill and the surrounding required setbacks and buffer land. Amortization is recorded on a units-of-consumption basis, applying expense as a rate per ton. The rate per ton is calculated by dividing each component of the amortizable basis of a landfill by the number of tons needed to fill the corresponding asset’s airspace. For landfills that the Company does not own, but operates through operating or lease arrangements, the rate per ton is calculated based on expected capacity to be utilized over the lesser of the contractual term of the underlying agreement or the life of the landfill. Landfill site costs are depleted to zero upon final closure of a landfill. The Company develops its estimates of the obligations using input from its operations personnel, engineers and accountants. The obligations are based upon interpretation of current requirements and proposed regulatory changes and are intended to approximate fair value. The estimate of fair value is based upon present value techniques using historical experience and, where available, quoted or actual market prices paid for similar work. The determination of airspace usage and remaining airspace is an essential component in the calculation of landfill asset depletion. This estimation is performed by conducting periodic topographic surveys, using aerial survey techniques, of the Company’s landfill facilities to determine remaining airspace in each landfill. The surveys are reviewed by the Company’s external consulting engineers, internal operating staff, and its management, financial and accounting staff. Remaining airspace will include additional “deemed permitted” or unpermitted expansion airspace if the following criteria are met: (1) The Company must either own the property for the expansion or have a legal right to use or obtain property to be included in the expansion plan; (2) Conceptual design of the expansion must have been completed; (3) Personnel are actively working to obtain land use and local and state approvals for an expansion of an existing landfill and the application for expansion must reasonably be expected to be received within the normal application and processing time periods for approvals in the jurisdiction in which the landfill is located; (4) There are no known significant technical, community, business, or political restrictions or similar issues that would likely impair the success of the expansion; and (5) Financial analysis has been completed and the results demonstrate that the expansion has a positive financial and operational impact. Senior management must have reviewed and approved all of the above. Of the Company's 39 active landfills, fifteen include deemed permitted airspace at December 31, 2015 . Upon successful meeting of the preceding criteria, the costs associated with developing, constructing, closing and monitoring the total additional future capacity are considered in the calculation of the amortization and closure and post-closure rates. Once expansion airspace meets these criteria for inclusion in the Company’s calculation of total available disposal capacity, management continuously monitors each site’s progress in obtaining the expansion permit. If at any point it is determined that an expansion area no longer meets the required criteria, the deemed expansion airspace is removed from the landfill’s total available capacity, and the rates used at the landfill to amortize costs to acquire, construct, close and monitor the site during the post-closure period are adjusted prospectively. In addition, any amounts related to the probable expansion are charged to expense in the period in which it is determined that the criteria are no longer met. Once the remaining permitted and expansion airspace is determined in cubic yards, an airspace utilization factor (“AUF”) is established to calculate the remaining permitted and expansion capacity in tons. The AUF is established using the measured density obtained from previous annual surveys and is then adjusted to account for future settlement. The amount of settlement that is forecasted will take into account several site-specific factors including: current and projected mix of waste type, initial and projected waste density, estimated number of years of life remaining, depth of underlying waste, anticipated access to moisture through precipitation or recirculation of landfill leachate and operating practices. In addition, the initial selection of the AUF is subject to a subsequent multi-level review by our engineering group, and the AUF used is reviewed on a periodic basis and revised as necessary. The Company's historical experience generally indicates that the impact of settlement at a landfill is greater later in the life of the landfill when the waste placed at the landfill approaches its highest point under the permit requirements. After determining the costs and remaining permitted and expansion capacity at each of its landfills, the Company determines the per ton rates that will be expensed as waste is received and deposited at the landfill by dividing the costs by the corresponding number of tons. The Company calculates per ton amortization rates for each landfill for assets associated with each final capping event, for assets related to closure and post-closure activities and for all other costs capitalized or to be capitalized in the future. These rates per ton are updated annually, or more often, as significant facts change. It is possible that the Company’s estimates or assumptions could ultimately be significantly different from actual results. In some cases the Company may be unsuccessful in obtaining an expansion permit or the Company may determine that an expansion permit that it previously thought was probable has become unlikely. To the extent that such estimates, or the assumptions used to make those estimates, prove to be significantly different than actual results, or the belief that the Company will receive an expansion permit changes adversely in a significant manner, the costs of the landfill, including the costs incurred in the pursuit of the expansion, may be subject to impairment testing and lower profitability may be experienced due to higher amortization rates, higher capping, closure and post-closure rates, and higher expenses or asset impairments related to the removal of previously included expansion airspace. The assessment of impairment indicators and the recoverability of the Company's capitalized costs associated with landfills and related expansion projects require significant judgment due to the unique nature of the waste industry, the highly regulated permitting process and the estimates involved. During the review of a landfill expansion application, a regulator may initially deny the expansion application although the permit is ultimately granted. In addition, the Company may periodically divert waste from one landfill to another to conserve remaining permitted landfill airspace, or a landfill may be required to cease accepting waste, prior to receipt of the expansion permit. However, such events occur in the ordinary course of business in the waste industry and do not necessarily result in an impairment of the landfill assets because, after consideration of all facts, such events may not affect the belief that the Company will ultimately obtain the expansion permit. As a result, the Company's tests of recoverability, which generally make use of a cash flow estimation approach, may indicate that an impairment loss should be recorded. No landfill impairments were recorded for the years ended December 31, 2015 , 2014 and 2013. Capitalized Interest The Company capitalizes interest on certain projects under development, including landfill construction projects. For the years ending December 31, 2015 , 2014 and 2013 , total interest cost was $138.0 , $141.5 and $163.1 , respectively, after capitalized interest of $0.9 , $1.6 and $0.6 , respectively. Derivative Financial Instruments The Company uses interest rate caps to manage interest rate risk on its variable rate debt. The Company uses commodity futures contracts as an economic hedge to reduce the exposure of changes in diesel fuel and natural gas prices. The instruments qualifying for hedge accounting treatment have been designated as cash flow hedges for accounting purposes with changes in fair value, to the extent effective, recognized in accumulated other comprehensive income within the equity section of the consolidated balance sheets. Amounts are reclassified into earnings when the forecasted transaction affects earnings. Any ineffectiveness for those instruments that do not qualify for hedge accounting, the amount of ineffectiveness or change in market value, respectively is recognized into earnings immediately without offset. The commodity futures contracts do not qualify for hedge accounting and as such changes in fair value are recognized in other (expense) income, net in the consolidated statements of operations. The fair values of the derivatives are included in other current or long-term assets or other current or long term liabilities as appropriate. The Company obtains current valuations of its commodity futures contracts and interest rate caps based on quotes received from financial institutions that trade these contracts and a current forward fixed price swap curve, respectively. Debt Issuance Costs The costs related to the issuance of debt are deferred and recorded as a reduction to the carrying value of debt and amortized to interest expense using the effective interest method. During fiscal 2014 and 2013, the Company refinanced its Term B Loan and the transaction was accounted for as a modification of debt. The total amount of debt costs deferred for fiscal 2014 and 2013 was approximately $1.3 and $22.9 , respectively. See "New Accounting Standards" section below for discussion of early adoption of ASU 2015-03, Interest - Imputation of Interest. Adoption of the new standard resulted in a $48.4 reduction to both other assets, net and long term debt on the December 31, 2015 consolidated balance sheet. Adoption of the new standard required retrospective application which resulted in a $60.6 reduction to both other assets, net and long term debt as of December 31, 2014. Acquisitions The Company recognizes assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities, based on fair values as of the date of acquisition. Any excess of purchase price over the fair value of the net assets acquired is recorded as goodwill. In certain acquisitions, the Company agrees to pay additional amounts to sellers contingent upon achievement by the acquired businesses of certain negotiated goals, such as targeted revenue levels, targeted disposal volumes or the issuance of permits for expanded landfill airspace. The Company has recognized liabilities for these contingent obligations based on their estimated fair value at the date of acquisition with any differences between the acquisition date fair value and the ultimate settlement of the obligations being recognized as an adjustment to income from operations. Assets and liabilities arising from contingencies such as pre-acquisition environmental matters and litigation are recognized at their acquisition date fair value when their respective fair values can be determined. If the fair values of such contingencies cannot be determined, the Company reports provisional amounts for which the accounting is incomplete. Acquisition date fair value estimates are revised as necessary and accounted for as an adjustment to the purchase accounting balances prior to the close of the purchase accounting window. If the purchase accounting window has closed, these estimates are accounted for as adjustments to income from operations if, and when, additional information becomes available to further define and quantify assets acquired and liabilities assumed. All acquisition-related transaction costs have been expensed as incurred. Goodwill Goodwill is the excess of the purchase price over the fair value of the net identifiable assets of acquired businesses. The Company does not amortize goodwill. Goodwill is subject to at least an annual assessment for impairment by evaluating quantitative factors. The Company performs a quantitative assessment or two-step impairment test to determine whether a goodwill impairment exists at a reporting unit. The reporting units are equivalent to the Company’s segments and when an individual business within an integrated operating segment is divested, goodwill is allocated to that business based on its fair value relative to the fair value of its operating segment. The Company compares the fair value with its carrying amount to determine if there is potential impairment of goodwill. If the carrying value exceeds estimated fair value, there is an indication of potential impairment and the second step is performed to measure the amount of impairment. Fair value is estimated using an equal weighting between a market approach and an income approach based on forecasted cash flows. Fair value computed via this method is arrived at using a number of factors, including projected future operating results, economic projections, anticipated future cash flows and comparable marketplace data. There are inherent uncertainties related to these factors and applying them to this analysis. However, the Company believes that this method provides a reasonable approach to estimating the fair value of its reporting units. The Company performs its annual assessment as of December 31 of each year. The impairment test indicated the fair value of each reporting unit exceeded the carrying value. If the Company does not achieve its anticipated disposal volumes, our collection or disposal rates decline, costs or capital expenditures exceed forecasts, costs of capital increase, or the Company does not receive landfill expansions, the estimated fair value could decrease and potentially result in an impairment charge in the future. Refer to Note 4 for information regarding impairment charges recorded in connection with discontinued operations. The Company recorded no goodwill impairment charges for fiscal 2015 , 2014 and 2013 in connection with the assessments. Inta |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions For fiscal 2015, the Company completed the acquisitions of twelve collection companies. Consideration transferred amounted to approximately $56.3 for these acquisitions, of which $6.6 will be paid in subsequent years. The Company recorded a reduction to the purchase price of prior year acquisitions during fiscal 2015 in the amount of $0.3 . The goodwill recognized of $12.0 represents synergies from the combined operations of the acquired entities and the Company. The Company is still reviewing information surrounding property and equipment, intangible assets and current liabilities resulting from the acquisitions, which may result in changes to the Company’s preliminary purchase price allocation during fiscal 2016. Transaction costs related to these acquisitions were not significant for fiscal 2015. For fiscal 2014, the Company completed the acquisitions of eight collection companies. Consideration transferred amounted to approximately $8.6 for these acquisitions, of which $0.8 was paid in 2015. Transaction costs related to these acquisitions were not significant for fiscal 2014. For the year ended December 31, 2013, the Company completed the acquisitions of seventeen collection companies. Consideration transferred amounted to approximately $31.3 for these acquisitions during fiscal 2013, of which $1.5 was paid in 2014. Transaction costs related to these acquisitions were not significant for the year ended December 31, 2013. The results of operations of each acquisition are included in the consolidated statements of operations of the Company subsequent to the closing date of each acquisition. The following table summarizes the estimated fair values of the assets acquired by year of acquisition: 2015 2014 Current assets $ 2.8 $ 0.5 Property and equipment 20.4 2.6 Goodwill 12.0 1.3 Other intangible assets 31.2 5.5 Total assets acquired 66.4 9.9 Current liabilities 4.3 1.3 Total liabilities assumed 10.1 1.3 Net assets acquired $ 56.3 $ 8.6 The following table presents the allocation of the purchase price to other intangible assets: 2015 2014 Customer lists and contracts $ 27.8 $ 4.3 Noncompete 2.6 1.2 Other 0.8 — $ 31.2 $ 5.5 The amount of goodwill recorded related to 2015 acquisitions for the South Segment, East Segment, and Midwest Segment was $1.6 , $1.4 , and $9.0 , respectively. The amount of goodwill deductible for tax purposes related to acquisitions in fiscal 2015 and fiscal 2014 was $4.1 and $1.3 , respectively. The total amount of goodwill deductible for tax purposes was $100.8 and $113.7 at December 31, 2015 and 2014 , respectively. The weighted average life of other intangible assets in years is as follows: Customer lists and contracts 15 Noncompete 5 Goodwill and intangible assets increased by $0.1 , $0.1 and $26.6 , for the years ended December 31, 2015 , 2014 and 2013 , respectively, as a result of purchase price adjustments of acquisitions from the previous year. The increases were primarily related to working capital adjustments as a result of finalizing the purchase accounting for the acquisitions. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Dec. 31, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | Discontinued Operations The Company completed the sale of certain assets and liabilities in Oxford, MA for approximately $3.7 in December 2013 and recorded a loss of $11.1 in connection with the sale, as the selling price was less than the carrying value. The loss on the sale in 2013 and the results of operations have been included in discontinued operations in the accompanying consolidated statements of operations for the applicable periods presented. The Company entered into a letter of intent in December 2013, to sell certain assets in Panama City, FL for approximately $2.0 and in connection with the planned divestiture recorded an impairment charge of $3.6 for the year ended December 31, 2013, as the fair value determined through the selling price was less than the carrying value. The sale was completed in January 2014. The impairment charge has been included in discontinued operations in the accompanying consolidated statement of operations for fiscal 2013. In connection with the acquisition of Veolia ES Solid Waste division, the Company was required by the United States Department of Justice to divest certain businesses. The Company completed the divestitures in 2013, as required for those businesses in Georgia and New Jersey and recorded no additional impairment charge upon sale for the year ended December 31, 2013. The Company completed the sale of certain assets and liabilities in New York and New Jersey for approximately $45.0 , of which $25.0 was received in cash on the date of closing, $5.0 was received in December 2013 and the remainder was received in fiscal 2015. The Company also reacquired the outstanding minority interest of $2.5 previously held by the minority shareholder in August 2013. In connection with the divestiture, the Company recorded an impairment charge of approximately $7.6 for the year ended December 31, 2013. The results of operations have been included in discontinued operations in the accompanying consolidated statements of operations for the applicable periods presented. The following table summarizes the revenues and expenses of those businesses that are presented as discontinued operations in the accompanying consolidated statements of operations for the years ended December 31, 2015 , 2014 and 2013 . 2015 2014 2013 Service revenues $ — $ 0.4 $ 104.3 Operating costs and expenses Operating expenses — 0.9 98.7 Selling, general and administrative — 0.3 6.9 Depreciation and amortization — 0.3 5.9 Gain on disposal of assets — (0.4 ) — Asset impairment — — 22.4 Total expenses — 1.1 133.9 Other (expense) income Interest expense — — — Total other (expense) income — — — Loss from discontinued operations before income tax — (0.7 ) (29.6 ) Tax benefit — (1.0 ) (7.1 ) Income (loss) from discontinued operations, net of taxes $ — $ 0.3 $ (22.5 ) |
Restricted Cash
Restricted Cash | 12 Months Ended |
Dec. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Restricted Cash | Restricted Cash Restricted cash consists of the following at December 31: 2015 2014 Funds held for landfill closure and post-closure financial assurance $ — $ 0.2 |
Valuation Allowances
Valuation Allowances | 12 Months Ended |
Dec. 31, 2015 | |
Valuation Allowances [Abstract] | |
Valuation Allowances | Valuation Allowances Allowance for doubtful accounts consists of the following at December 31: 2015 2014 2013 Beginning balance $ 5.0 $ 8.4 $ 4.0 Provision for doubtful accounts 4.0 4.2 7.7 Recovery of bad debts 2.2 0.6 1.7 Write-offs of bad debt (7.0 ) (8.2 ) (5.4 ) Other 0.2 — 0.4 $ 4.4 $ 5.0 $ 8.4 The deferred tax asset valuation allowances at December 31 consist of the following: 2015 2014 2013 Balance at January 1, $ 96.1 $ 141.6 $ 128.1 Decrease in valuation allowance for tax provision for continuing operations (0.9 ) (51.4 ) — Increase in valuation allowance for tax provision for continuing operations — 5.9 7.6 Additions from purchase accounting — — 5.9 Balance at December 31, $ 95.2 $ 96.1 $ 141.6 |
Prepaid Expenses and Other Curr
Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2015 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepaid Expenses and Other Current Assets | Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following at December 31: 2015 2014 Prepaid insurance $ 5.6 $ 6.3 Prepaid expenses 15.4 15.8 Other receivables and current assets 4.2 3.0 Parts and supplies inventory 8.2 9.1 $ 33.4 $ 34.2 |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities The following table summarizes the fair value of derivative instruments recorded in our consolidated balance sheets. Derivatives Designated Balance Sheet Location 2015 2014 Interest rate caps Other current assets 0.2 2.7 Derivatives Not Designated Fuel commodity derivatives Other current liabilities 16.2 20.6 Fuel commodity derivatives Other long-term liabilities — 6.7 Total derivatives $ 16.0 $ 24.6 We have not offset fair value amounts recognized for our derivative instruments. Interest Rate Cap In December 2012, the Company entered into four interest rate cap agreements to hedge the risk of a rise in interest rates and associated cash flows on the variable rate debt. The interest rate caps expire in various tranches through 2016. The Company recorded the premium of $5.0 in other assets in the consolidated balance sheet and amortizes the premium to interest expense based upon decreases in time value of the caps. Amortization expense was approximately $1.5 , $2.1 , and $1.3 for fiscal 2015 , 2014 , and 2013, respectively. The aggregate notional amounts of the contracts were approximately $695.2 at December 31, 2015 and expire in tranches through 2016 . Commodity Futures Contracts The Company utilizes fuel derivative instruments (commodity futures contracts) as economic hedges of the risk that fuel prices will fluctuate. The Company has used financial derivative instruments for both short-term and long-term time frames and utilizes fixed swap price agreements to manage the identified risk. The Company does not enter into derivative financial instruments for trading or speculative purposes. Changes in the fair value and settlements of the fuel derivative instruments are recorded in other (expense) income, net in the consolidated statements of operations. The market price of diesel fuel is unpredictable and can fluctuate significantly. Significant volatility in the price of fuel could adversely affect the business and reduce the Company’s operating margins. To manage a portion of that risk, the Company entered into commodity swap agreements that matured in 2015 for 23.8 gallons and mature in 2016 for 13.4 gallons at weighted average prices per gallon that range from $2.20 to $2.84 per gallon. If the mean price of the high and the low of the calculation period for Gulf Coast Ultra Low Sulfur diesel pipeline platts for a gallon of diesel fuel exceeds the contract price per gallon, the Company receives the difference between the average price and the contract price (multiplied by the notional gallons) from the counterparty. If the average price is less than the contract price per gallon, the Company pays the difference to the counterparty. The loss on the Company's fuel derivative contracts during 2015 and 2014 was $15.4 and $29.0 , respectively which resulted in a loss in the consolidated statements of operations. |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consist of the following at December 31: 2015 2014 Land $ 193.8 $ 186.0 Landfill site costs 1,277.3 1,281.6 Vehicles 539.4 490.8 Containers 271.4 261.8 Machinery and equipment 141.2 134.4 Furniture and fixtures 21.0 24.1 Building and improvements 159.1 155.3 Construction in process 54.2 44.4 2,657.4 2,578.4 Less: Accumulated depreciation on property and equipment (500.4 ) (411.8 ) Less: Accumulated landfill airspace amortization (507.1 ) (502.7 ) $ 1,649.9 $ 1,663.9 Gross assets under capital lease amount to approximately $38.0 and $27.9 at December 31, 2015 and 2014 , respectively. Amortization expense of assets under capital lease was $4.1 and $2.0 for years ended December 31, 2015 and 2014 and not significant for the year ended December 31, 2013. Depreciation, landfill amortization and depletion expense for fiscal 2015 , 2014 and 2013 was $216.3 , $229.1 and $236.7 , respectively. |
Landfill Accounting
Landfill Accounting | 12 Months Ended |
Dec. 31, 2015 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Landfill Accounting | Landfill Accounting Liabilities for final closure and post-closure costs consist of the following for the years ended December 31: 2015 2014 Balance at January 1 $ 201.1 $ 184.3 Increase in retirement obligation 9.8 11.5 Accretion of closure and post-closure costs 13.1 13.5 Disposition (3.2 ) — Change in estimate (2.9 ) 5.6 Costs incurred (24.2 ) (13.8 ) 193.7 201.1 Less: Current portion (30.2 ) (29.2 ) Balance at December 31 $ 163.5 $ 171.9 |
Other Intangible Assets, Net an
Other Intangible Assets, Net and Goodwill | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Other Intangible Assets, Net and Goodwill | Other Intangible Assets, Net and Goodwill Intangible assets, net consist of the following at December 31: 2015 Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value Weighted Average Remaining Life (Years) Noncompete agreements $ 19.0 $ (14.6 ) $ — $ 4.4 2.9 Tradenames 17.2 (7.8 ) — 9.4 15.5 Customer lists and contracts 510.6 (163.1 ) — 347.5 13.6 Operating permits 2.9 — — 2.9 N/A Above/below market leases 0.4 (0.1 ) — 0.3 10.6 $ 550.1 $ (185.6 ) $ — $ 364.5 2014 Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value Weighted Average Remaining Life (Years) Noncompete agreements $ 16.9 $ (12.5 ) $ (0.1 ) $ 4.3 2.3 Tradenames 17.0 (7.1 ) — 9.9 16.6 Customer lists and contracts 491.3 (125.6 ) (2.5 ) 363.2 14.6 Operating permits 2.2 — — 2.2 N/A Above/below market leases 0.4 (0.1 ) — 0.3 11.6 $ 527.8 $ (145.3 ) $ (2.6 ) $ 379.9 Amortization expense recorded on intangible assets for the years ended December 31, 2015 , 2014 and 2013 was $42.8 , $42.3 and $42.2 , respectively. Future amortization expense for intangible assets for the year ending December 31 is estimated to be: 2016 44.4 2017 40.9 2018 38.1 2019 29.4 2020 29.0 Thereafter 182.7 $ 364.5 The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 are as follows: Goodwill Accumulated Impairment Goodwill, Net December 31, 2013 $ 1,253.9 $ (87.5 ) $ 1,166.4 Acquisition 1.3 — 1.3 Disposition of businesses — (0.8 ) (0.8 ) December 31, 2014 1,255.2 (88.3 ) 1,166.9 Acquisition 12.0 — 12.0 Disposition of businesses — (5.4 ) (5.4 ) December 31, 2015 $ 1,267.2 $ (93.7 ) $ 1,173.5 |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | Accrued Expenses Accrued expenses consist of the following at December 31: 2015 2014 Accrued compensation and benefits $ 32.4 $ 28.3 Accrued waste disposal costs 39.8 37.2 Accrued insurance and self-insurance reserves 15.1 14.9 Accrued severance 2.2 3.6 Derivative valuation 16.2 20.6 Other accrued expenses 30.0 26.1 $ 135.7 $ 130.7 |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | Long-Term Debt Long-term debt consists of the following at December 31: 2015 2014 Revolving line of credit with lenders, interest at base rate plus margin, as defined (4.42% and 4.16% at December 31, 2015 and 2014, respectively) due quarterly; balance due at maturity on October 2017 $ 32.0 $ — Term loans; quarterly payments commencing March 31, 2013 through June 30, 2019 with final payment due October 9, 2019; interest at LIBOR floor of 0.75% plus an applicable margin 1,685.5 1,749.0 Senior notes payable; interest at 8.25% payable in arrears semi-annually commencing April 1, 2013; maturing on October 1, 2020. 550.0 550.0 Capital lease obligations, maturing through 2024 28.2 23.3 Other debt 20.0 4.9 2,315.7 2,327.2 Less: Original issue discount and debt issuance costs classified as a reduction to long-term debt (68.6 ) (84.2 ) Less: Current portion (49.1 ) (25.3 ) $ 2,198.0 $ 2,217.7 Annual aggregate principal maturities at December 31, 2015 are as follows: 2016 $ 49.1 2017 29.6 2018 24.8 2019 1,649.3 2020 552.4 Thereafter 10.5 $ 2,315.7 In October 2012, the Company placed $1,800.0 in term B loans, $550.0 in bonds and a $300.0 revolving credit facility ("Revolver"). The proceeds were used to finance the acquisition of Veolia ES Solid Waste division and repay borrowings under its previously outstanding revolving credit facility and extinguish term loans and notes payable. Substantially all of the Company’s assets collateralize the loans, bonds and credit facility and each of the agreements restrict further indebtedness and payment of dividends in excess of certain predefined amounts. All borrowings under the term B loan and the Revolver are guaranteed by each of the Company’s current and future U.S. subsidiaries (which also guarantee the 8.25% bonds), subject to certain agreed-upon exemptions. The Company has one non-guarantor foreign subsidiary that is minor, as its assets and income from continuing operations are less than 3% of the Company’s consolidated amounts. All guarantors are jointly and severally and fully and unconditionally liable. The parent company has no independent assets or operations and each of the subsidiary guarantor is 100% owned by the Company. There are no significant restrictions on the Company or any guarantor to obtain funds from its subsidiaries by dividend or loan. The Revolver is a syndicated revolving credit facility that is available for general corporate purposes including working capital, equipment purchases and business acquisitions and collateralized by the real property of the Company. It is due at maturity in October, 2017 . At December 31, 2015 , the Revolver had $32.0 of borrowings outstanding and $45.9 in letters of credit outstanding. At December 31, 2014 , the Revolver facility had no borrowings outstanding and $58.1 in outstanding letters of credit. An annual commitment fee equal to 0.50% per annum on the daily unused amount is due quarterly. The amount of fees for 2015 , 2014 and 2013 were not significant. The term B loan is due in September 2019 and has payments due quarterly of $4.5 with mandatory prepayments due to the extent net cash proceeds from the sale of assets exceed $25.0 in any fiscal year and are not reinvested in the business within 365 days from the date of sale, upon notification of the Company’s intent to take such action or in accordance with excess cash flow, as defined. The term B loan is collateralized by certain real property of the Company. Further prepayments are due when there is excess cash flow, as defined. On October 1, 2016 and 2017, the bonds may be redeemed for a call premium of 104.125% and 102.063% , respectively. Subsequent to October 1, 2018, the notes are redeemable at par. The bonds bear interest at 8.25% and are due in October 2020. The term B loan bears interest at a base rate (alternate base rate or LIBOR base rate) plus an applicable margin. The alternate base rate is defined as the greater of the prime rate or federal funds rate plus 50 basis points and the LIBOR base rate is subject to a 0.75% floor. The Revolver loan bears interest at a base rate (alternate base rate or LIBOR base rate) plus an applicable margin. The alternate base rate is defined as the greater of the prime rate or federal funds rate plus 50 basis points and the LIBOR base rate is subject to a 1.25% floor. The applicable margin for the term B loan is based on the total leverage ratio of the Company as follows: Total Leverage Ratio LIBOR Base Rate Alternate Base Rate <4.75:1.00 2.50% 2.50% ≥4.75:1.00 3.00% 3.00% The applicable margin for the Revolver is based on the total leverage ratio of the Company as follows: Total Leverage Ratio LIBOR Base Rate Alternate Base Rate <4.75:1.00 3.50% 2.50% ≥4.75:1.00 4.00% 3.00% Fair Value of Debt The fair value of the Company’s debt is estimated using discounted cash flow analyses, based on rates the Company would currently pay for similar types of instruments except for variable rate debt for which cost approximates fair value due to the short-term nature of the interest rate (Level 2 inputs). Although the Company has determined the estimated fair value amounts using available market information and commonly accepted valuation methodologies, considerable judgment is required in interpreting the information and in developing the estimated fair values. Therefore, these estimates are not necessarily indicative of the amounts that the Company, or holders of the instruments, could realize in a current market exchange. The fair value estimates are based on information available as of December 31, 2015 and 2014 respectively. The estimated fair value of our debt is as follows at December 31: 2015 2014 Revolving Credit Facility $ 32.0 $ — Senior Notes $ 555.5 $ 550.0 Term Loan B Facility 1,639.2 1,692.2 $ 2,226.7 $ 2,242.2 The carrying value of the debt at December 31, 2015 is approximately $2,267.5 compared to $2,299.0 at December 31, 2014. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2015 | |
Leases [Abstract] | |
Leases | Leases The Company leases certain facilities under operating lease agreements. Future minimum lease payments as of December 31, 2015 for noncancelable operating leases that have initial or remaining terms in excess of one year are as follows: 2016 $ 5.8 2017 4.6 2018 4.2 2019 3.6 2020 3.0 Thereafter 18.7 $ 39.9 The total rental expense for all operating leases for the years ended December 31, 2015 , 2014 and 2013 was $9.3 , $10.2 and $12.4 , respectively. Direct rental expense, consisting of rental expense at operating locations, is included in operating expenses, and rental expense for corporate offices is included in selling, general and administrative expenses in the consolidated statements of operations. |
Stockholders' Equity and Stock
Stockholders' Equity and Stock Options | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stockholders' Equity and Stock Options | Stockholders’ Equity and Stock Options (Share amounts not in millions) The Company’s equity consists of one thousand shares of authorized, issued and outstanding common stock. In October 2012, the Parent’s Board of Directors adopted the 2012 Stock Incentive Plan (the “Plan”) under which an aggregate of 150,000 shares of the Parent’s common stock was reserved for issuance. The Plan provides for employees of the Company to participate in the plan and provides that the options or stock purchase rights have a term of ten years and vest equally over four years at a rate of 20% with 20% of the options being vested at the date of grant for all options except the Strategic grants which vest 100% after five years. All options of the Strategic Plan issued prior to 2010 vest upon a change of control. All other options vest in 20% tranches from the date of issuance upon a change of control. These options have an assumed forfeiture rate ranging from 5.7% - 14.8% for 2015 and 2014. Stock Option Plans The fair value of the options granted is estimated using the Black-Scholes option pricing model using the following assumptions: 2015 2014 2013 Average expected term (years) 6.9 6.0 6.0 Risk-free interest rate 1.76% - 1.93% 1.83% - 2.10% 0.93% Expected volatility 30.0% 30.0% 20.0% Since the Company does not have any historical exercise data that is indicative of expected future exercise performance, it has elected to use the “simplified method” to estimate the options expected term by taking the average of each vesting-tranche and the contractual term. The Company used the average weekly historical volatility for public companies in the solid waste sector to estimate historical volatility used in the Black-Scholes model. The risk-free rate used was based on the US Treasury security rate estimated for the expected term of the option at the date of grant. The Company has applied a discount for lack of marketability ranging from 9% to 10% for shares issued in 2015 , 2014 and 2013 , to the option value as the shares being valued are privately held and not readily marketable. No dividends are expected to issued. Annual Stock Options A summary of the Annual Stock Options and Senior Management Stock Options outstanding for the year ended December 31, 2015 (in millions, except share and per share amounts) is as follows: Number of Shares Weighted - Average Exercise Price Weighted - Average Remaining Contractual Term Outstanding at January 1, 2015 38,928 $ 659 Granted 4,750 896 Exercised (117 ) 409 Expired or forfeited (1,925 ) 676 Outstanding at December 31, 2015 41,636 686 6.08 Exercisable at December 31, 2015 30,667 $ 628 5.45 The weighted-average grant-date fair value of options granted per share was $291 , $268 and $268 during 2015 , 2014 , and 2013 , respectively. The total fair value of options vested was $1.0 , $1.6 and $1.8 during fiscal 2015 , 2014 , and 2013 , respectively. The intrinsic value of the options outstanding at December 31, 2015 was approximately $8.8 . The intrinsic value of options exercised during fiscal 2015 was $0.1 . Strategic Stock Options A summary of the Strategic Stock Options for the year ended December 31, 2015 (in millions, except share and per share amounts) is as follows: Number of Shares Weighted - Average Exercise Price Weighted - Average Remaining Contractual Term Outstanding at January 1, 2015 39,728 $ 572 Granted 6,410 896 Exercised (715 ) 409 Expired or forfeited (4,085 ) 767 Outstanding at December 31, 2015 41,338 $ 606 4.79 Exercisable at December 31, 2015 21,608 $ 412 2.15 The weighted-average grant-date fair value of options granted per share was $331 , $306 and $272 during fiscal 2015 , 2014 and 2013 , respectively. The intrinsic value of the options outstanding at December 31, 2015 was approximately $12.1 . The intrinsic value of options exercised during fiscal 2015 was $0.3 . Compensation Expense Compensation expense is recognized ratably over the vesting period for those awards that the Company expects to vest. For fiscal 2015 , 2014 and 2013 , the Company recognized share-based compensation expense as a component of selling, general and administrative expenses of $3.1 , $4.5 and $4.6 , respectively. As of December 31, 2015 , the Company estimates that a total of approximately $3.2 of currently unrecognized compensation expense will be recognized over a weighted average period of approximately three years for unvested options issued and outstanding. |
Insurance
Insurance | 12 Months Ended |
Dec. 31, 2015 | |
Insurance [Abstract] | |
Insurance | Insurance The Company carries insurance coverage for protection of its assets and operations from certain risks including automobile liability, general liability, real and personal property damage, workers’ compensation claims, directors’ and officers’ liability, pollution liability, employee group health claims and other coverages that are customary in the industry. The Company’s exposure to loss for insurance claims is generally limited to the per incident deductible under the related insurance policy. As of December 31, 2015 , the Company’s insurance programs carried self-insurance exposures of up to $0.5 , $1.0 and $0.8 per incident for general liability, automobile and workers’ compensation, respectively. Certain self-insurance claims reserves are recorded at present value using a 1.31% and a 1.10% discount rate as of December 31, 2015 and 2014 , respectively. The Company has a partially self-insured employee group health insurance program that carries an aggregate stop loss amount. The amount recorded for the health insurance liability at December 31, 2015 and 2014 for unpaid claims, including an estimate for IBNR claims, was $4.1 and $4.7 , respectively. Liabilities are recorded gross of expected recoveries. The self-insured portion of workers’ compensation liability for unpaid claims and associated expenses, including IBNR claims, is based on an actuarial valuation and internal estimates. The amount recorded for workers’ compensation liability at December 31, 2015 and 2014 for unpaid claims, including an estimate for IBNR claims, is $24.9 and $25.1 , respectively. The self-insured portion of general liability and automobile liability for unpaid claims and associated expenses, including IBNR claims, is based on an actuarial valuation and internal estimates. The amount recorded for general and automobile liability at December 31, 2015 and 2014 for unpaid claims, including an estimate for IBNR claims, was $17.5 and $18.0 , respectively. Of the above amounts, $19.2 and $19.6 is included in accrued expenses and the remainder is included in other long-term liabilities at December 31, 2015 and 2014 , respectively. |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Benefit Plans | Benefit Plans The Company has 401(k) Savings Plans (“401(k) Plan”) for the benefit of qualifying full-time employees who have more than 90 days of service and are over 21 years of age. Employees make pre-tax contributions to the 401(k) Plan with a partial matching contribution made by the Company. The Company’s matching contributions to the 401(k) Plan were $3.2 , $2.8 and $2.8 for fiscal 2015 , 2014 and 2013 , respectively. Contributions by the Company are included in operating costs and expenses in the accompanying consolidated statements of operations. The Company is a participating employer in a number of trustee-managed multiemployer, defined benefit pension plans for employees who participate in collective bargaining agreements. Approximately 13% of the Company’s workforce is subject to a collective bargaining agreement and two of the collective bargaining agreements expire within one year . The risks of participating in the multiemployer plans are different from single-employer plans in that (i) assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers; (ii) if a participating employers stops contributing to the plan, the unfunded obligations of the plan may be required to be assumed by the remaining participating employers; and (iii) if the Company chooses to stop participating in any of the multiemployer plans, it may be required to pay those plans a withdrawal amount based on the underfunded status of the plan. The total contributions made to all plans for fiscal 2015 was $4.7 , of which $0.2 is related to plans that are not individually significant. The following table outlines the Company's participation in multiemployer plans considered to be individually significant: Pension Fund EIN/Pension Plan Number Pension Protection Act Zone Status FIP/RP Status Pending/ Implemented (B) Contributions Expiration Date of Collective- Bargaining Agreement 2014 2013 2015 2014 2013 Suburban Teamsters of Northern IL Pension Fund 36-6155778-001 Critical as of Critical as of Implemented $ 0.6 $ 0.5 $ 0.4 1/31/2019 Pension Fund of Automobile Mechanics Local No. 701 36-6042061-001 Critical as of Critical as of Implemented $ 0.2 $ 0.2 $ 0.2 12/31/2018 Local 731 Private Scavengers and Garage Attendants Pension Fund(A) 36-6513567-001 Not Endangered as Endangered as Implemented $ 1.8 $ 1.7 $ 1.6 9/30/2018 Midwest Operating Engineers Pension Fund 36-6140097-001 Endangered as Endangered as Implemented $ 0.6 $ 0.6 $ 0.5 9/30/2016 Teamsters Local Union No. 301 Union Pension Fund(A) 36-6492992-001 Not endangered Not endangered No $ 0.9 $ 0.8 $ 0.6 9/30/2016 Central States Southeast and Southwest Areas Pension Fund 36-6064560-001 Critical as of Critical as of Implemented $ 0.2 $ 0.2 $ 0.2 1/31/2015 Local 705 Int’l Brotherhood of Teamsters Pension TR. FD. 36-6492502-001 Critical as of Critical as of Implemented $ 0.2 $ 0.2 $ 0.2 9/30/2018 (A) The employers' contributions to the plan represent greater than 5% of the total contributions to the plan for the most recent plan year available. (B) A multi-employer defined benefit pension plan that has been certified as endangered, seriously endangered, or critical may begin to levy a statutory surcharge on contribution rates. Once authorized, the surcharge is at the rate of 5% for the first 12 months and 10% for any periods thereafter. Contributing employers, however, may eliminate the surcharge by entering into a collective bargaining agreement that meets the requirements of the applicable funding improvement plan or rehabilitation plan. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of the benefit from income taxes from continuing operations are comprised of the following for the years ended December 31: 2015 2014 2013 Current Federal $ 0.4 $ 0.2 $ — State 1.8 2.7 2.4 2.2 2.9 2.4 Deferred Federal (17.4 ) (83.2 ) (39.4 ) State (4.2 ) (0.3 ) (8.4 ) (21.6 ) (83.5 ) (47.8 ) Benefit from income taxes $ (19.4 ) $ (80.6 ) $ (45.4 ) The Company accounts for income taxes in accordance with current guidance. For fiscal 2015, 2014 and 2013, the federal statutory rate in effect was 35% , 35% and 34% , respectively. A reconciliation between the benefit from income taxes and the expected tax benefit for continuing operations using the federal statutory rate in effect for the years ended December 31 as follows: 2015 2014 2013 Amount computed using statutory rates $ (18.6 ) $ (34.3 ) $ (47.6 ) State income taxes, net of Federal benefit (5.1 ) (1.3 ) (2.4 ) State tax rate adjustment 1.7 6.6 0.1 Uncertain tax positions and interest 1.0 — — Nondeductible expenses 1.8 — — Other 0.7 (0.2 ) 1.1 Valuation allowance (0.9 ) (51.4 ) 3.4 Benefit from income taxes $ (19.4 ) $ (80.6 ) $ (45.4 ) The Company’s deferred tax assets and liabilities from continuing operations relate to the following sources and differences between financial accounting and the tax basis of the Company’s assets and liabilities at December 31: 2015 2014 Deferred tax assets Allowance for doubtful accounts $ 1.7 $ 2.0 Insurance reserve 16.8 17.5 Net operating loss 176.5 178.3 Capital loss carryforward 69.1 69.1 Accrued bonus and vacation 9.0 7.7 Stock compensation 1.9 1.8 Other comprehensive income — 0.6 Tax credits 7.2 6.9 Other 21.4 21.1 Total deferred tax assets 303.6 305.0 Valuation allowance (95.2 ) (96.1 ) Deferred tax assets less valuation allowance 208.4 208.9 Deferred tax liabilities Fixed asset basis (110.8 ) (117.8 ) Intangible basis (123.7 ) (127.2 ) Landfill and environmental remediation liabilities (109.8 ) (113.8 ) Other (3.1 ) (5.4 ) Deferred tax liabilities (347.4 ) (364.2 ) Net deferred tax liability $ (139.0 ) $ (155.3 ) The amounts recorded as deferred tax assets as of December 31, 2015 and 2014 represent the amounts of tax benefits of existing deductible temporary differences or net operating and capital loss carryforwards. Realization of deferred tax assets is dependent upon the generation of sufficient taxable income prior to expiration of any loss carryforwards. A valuation allowance has been recorded against deferred tax assets as of December 31, 2015 in the amount of $95.2 . The valuation allowance for the year ended December 31, 2014 was $96.1 . The Company has established valuation allowances for uncertainties in realizing the benefit of certain tax loss and credit carryforwards. While the Company expects to realize the deferred tax assets, net of the valuation allowances, changes in estimates of future taxable income or in tax laws may alter this expectation. The Company had available federal NOL carryforwards from continuing operations of approximately $417.4 and $432.5 at December 31, 2015 and 2014 respectively. The Company’s federal net operating losses have expiration dates beginning in the year 2019 through 2033 if not utilized against taxable income. The capital losses of $182.9 expire in 2017 and 2018, if not previously utilized against capital gains. In 2014, the Company recognized a decrease in valuation allowance of $51.4 , which was primarily related to the completion of a legal entity restructuring that was undertaken in order to drive administrative and legal efficiencies. As a result of the operational restructuring, during the fourth quarter of 2014, the Company was able to project and support its ability to utilize certain federal net operating losses that were previously limited under the Seperate Return Limitation Year ("SRLY") tax rules. The Company has grown through a series of acquisitions and mergers and has had change of control events that resulted in limitations on the utilization of NOLs pursuant to Section 382 of the Internal Revenue Code (“IRC”). Approximately $169.8 of the NOLs from continuing operations are limited under the SRLY rules of the IRC. These NOLs are only available to be utilized against taxable income of the HWStar Waste Holdings, Corp. and subsidiaries thereof, a wholly-owned subsidiary of the Company. At this time, the Company expects to utilize these NOLs, as a result of the operational restructuring discussed above. A predecessor of the Company had a transaction on June 2, 2002 that was treated as a reorganization. The Company estimates that it is subject to an annual limitation of approximately $3.5 on NOLs of approximately $78.2 originating prior to June 28, 2002. The predecessor had a subsequent change of control on November 1, 2005. As such, NOLs of $4.8 originating after June 28, 2002 through November 1, 2005 are subject to an annual limitation of $4.2 . A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2015, 2014 and 2013 is as follows: 2015 2014 2013 Balance at January 1, $ 6.2 $ 6.2 $ 6.2 Additions based on tax positions of prior years 0.5 — — Additions based on tax positions of current year 0.6 — — Balance at December 31, $ 7.3 $ 6.2 $ 6.2 These liabilities are included as a component of other liabilities in the Company’s consolidated balance sheet. The Company does not anticipate that settlement of the liabilities will require payment of cash within the next 12 months. As of December 31, 2015, $0.7 of net unrecognized tax benefit, if recognized in future periods, would impact the Company’s effective rate. The Company recognizes interest expense related to unrecognized tax benefits in tax expense. During the tax years ended December 31, 2015 , 2014 and 2013 , respectively, the Company recognized approximately $0.2 of such interest expense as a component of the “Provision for Income Taxes” in each of the years. The Company had approximately $2.2 and $2.0 of accrued interest and $0.3 and $0.3 of accrued penalties in its balance sheet as of December 31, 2015 and 2014, respectively. The Company and its subsidiaries are subject to income tax in the United States at the federal, state, and local jurisdictional levels. During 2015, the Company finalized its 2012 federal audit with no changes reported. The company has open tax years dating back to 2000. There were no settlements of state audits during 2015. Prior to the acquisition, Veolia ES Solid Waste division was part of a consolidated group and is still subject to IRS and state examinations dating back to 2004. Pursuant to the terms of the acquisition of Veolia ES Solid Waste, Inc., the Company is entitled to certain indemnifications for Veolia ES Solid Waste Division's pre-acquisition tax liabilities. During 2015, there were no changes in federal or state law that would result in a material impact to the financial statements or future cash flows. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments As a basis for considering assumptions, the fair value guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 Observable inputs such as quoted prices in active markets; Level 2 Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3 Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value are based on one or more of three valuation techniques noted in the guidance. The three valuation techniques are as follows: Market approach Prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities; Cost approach Amount that would be required to replace the service capacity of an asset (i.e., replacement cost); and; Income approach Techniques to convert future amounts to a single present amount are based on market expectations (including present value techniques, option-pricing models, and lattice models). The Company’s financial assets and liabilities recorded at fair value on a recurring basis include derivative instruments and certain investments included in cash equivalent money market funds. The Company’s fuel derivative instruments and interest rate caps are recorded at their estimated fair values based on quotes received from financial institutions that trade these contracts and a current forward fixed price swap curve, respectively. The Company verifies the reasonableness of these quotes using similar quotes from another financial institution as of each date for which financial statements are prepared. For the Company’s fuel derivative instruments, the Company also considers the Company's and counterparty’s credit worthiness in its determination of the fair value measurement of these instruments in a net liability position. The Company’s restricted cash measured at fair value is invested primarily in U.S. government and agency securities. All instruments were valued using the market approach. The Company's interest rate caps are valued using a third-party pricing model that incorporates information about LIBOR yield curves, which is considered observable market data, for each instrument’s respective term. Counterparties to the Company's interest rate caps are financial institutions who participate in the term B loan. Valuations of those interest rate caps may fluctuate significantly from period to period due to volatility in valuation interest rates which are driven by market conditions and the scheduled maturities of the caps. The Company’s assets and liabilities that are measured at fair value on a recurring basis approximate the following: Fair Value Measurement at December 31, 2015 Total Quoted Prices Significant Significant Total Carrying Recurring fair value measurements Cash and cash equivalents $ 0.6 $ 0.6 $ — $ — $ — $ 0.6 Derivative instruments - Asset position 0.2 — 0.2 — — 0.2 Derivative instruments - Liability position (16.2 ) $ — (16.2 ) — — (16.2 ) Total recurring fair value measurements $ (15.4 ) $ 0.6 $ (16.0 ) $ — $ — $ (15.4 ) Fair Value Measurement at December 31, 2014 Total Quoted Prices Significant Significant Total Carrying Recurring fair value measurements Cash and cash equivalents $ 1.0 $ 1.0 $ — $ — $ — $ 1.0 Restricted cash 0.2 0.2 — — — 0.2 Derivative instruments - Asset position 2.7 — 2.7 — — 2.7 Derivative instruments - Liability position (27.3 ) — (27.3 ) — — (27.3 ) Total recurring fair value measurements $ (23.4 ) $ 1.2 $ (24.6 ) $ — $ — $ (23.4 ) Refer to Note 13 for disclosures regarding long-term debt. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Municipal solid waste service and other service contracts, permits and licenses to operate transfer stations, landfills and recycling facilities may require performance or surety bonds, letters of credit or other means of financial assurance to secure contractual performance. To secure its obligations, the Company has provided customers, various regulatory authorities and the Company’s insurer with such bonds totaling to approximately $709.0 and $705.9 as of December 31, 2015 and 2014 , respectively. The majority of these obligations expire each year and are automatically renewed. Additionally, letters of credit have been issued to fulfill such obligations and are included in the total letters of credit outstanding disclosed in Note 13 "Long Term Debt" in the notes to the consolidated financial statements herein. In February 2009, the Company and certain of its subsidiaries were named as defendants in a purported class action suit in the Circuit Court of Macon County, Alabama. Similar class action complaints were brought against the Company and certain of its subsidiaries in 2011 in Duval County, Florida and in 2013 in Quitman County, Georgia and Barbour County, Alabama, and in 2014 in Chester County, Pennsylvania. The Georgia complaint was dismissed in March 2014. The plaintiffs in those cases primarily allege that the defendants charged improper fees (fuel, administrative and environmental fees) that were in breach of the plaintiffs' service agreements with the Company and seek damages in an unspecified amount. The Company believes that it has meritorious defenses against these purported class actions, which it will vigorously pursue. Given the inherent uncertainties of litigation, including the early stage of these cases, the unknown size of any potential class, and legal and factual issues in dispute, the outcome of these cases cannot be predicted and a range of loss, if any, cannot currently be estimated. In November 2014, the Attorney General of the State of Vermont filed a complaint against the Company relating to the Moretown, Vermont landfill regarding alleged odor and other environmental-related noncompliances with environmental laws and regulations and environmental permits. In the complaint, the Attorney General requested that the State of Vermont Superior Court find the Company liable for the alleged noncompliances, issue related civil penalties, and order the Company to reimburse the State of Vermont for enforcement costs. While the complaint does not specify a monetary penalty, prior correspondence from the Attorney General of the State of Vermont indicates that it may seek a penalty relating to the alleged noncompliances which are not expected to be material. Given the inherent uncertainties of litigation, including the early stage of this case, the outcome cannot be predicted and a range of loss, if any, cannot currently be estimated. The Company is subject to various other proceedings, lawsuits, disputes and claims and regulatory investigations arising in the ordinary course of its business. Many of these actions raise complex factual and legal issues and are subject to uncertainties. Actions filed against the Company include commercial, customer, and employment-related claims. The plaintiffs in some actions seek unspecified damages or injunctive relief, or both. These actions are in various procedural stages, and some are covered in part by insurance. Although the Company cannot predict the ultimate outcome and the range of loss cannot be currently estimated, the Company does not believe that the eventual outcome of any such action could have a material adverse effect on its business, financial condition, results of operations, or cash flows. The Company has an obligation as part of the purchase of one of its C&D landfills for payments of 6% of net revenue that began at the commencement of landfill operations and continues through the life of the landfill. |
Restructuring
Restructuring | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring and Related Activities [Abstract] | |
Restructuring | Restructuring For fiscal 2015, no new restructuring plans were adopted and no restructuring costs were incurred. For fiscal 2014, the Company recognized approximately $0.4 of severance costs, $0.6 for lease termination costs and $0.3 for relocation costs in the Midwest region; $0.4 for lease termination costs and $0.3 for relocation in the East region; $0.2 for lease termination costs and $0.8 for relocation costs in the South region, as well as $1.6 of severance costs for Corporate. For fiscal 2013, the Company recognized employee severance and benefits restructuring charges of approximately $2.5 , $1.7 for lease termination costs and $2.3 for relocation costs in the Midwest region; $0.6 for lease termination costs in the East region, $0.3 for lease termination costs in the South region and $0.3 for other expenses, as well as $2.3 of severance costs for Corporate. 2015 2014 2013 Restructuring charges $ — $ 4.6 $ 10.0 Total pre-tax and restructuring charges $ — $ 4.6 $ 10.0 The costs associated with the actions above are included in accrued expenses in the accompanying consolidated financial statements and include the amounts as follows: 2015 2014 2013 Beginning balance $ 5.4 $ 6.4 $ 5.1 Expense — 4.6 10.0 Cash expenditures Severance and relocation (2.7 ) (5.1 ) (7.7 ) Other (0.5 ) (0.5 ) (1.0 ) Ending balance $ 2.2 $ 5.4 $ 6.4 |
Segment and Related Information
Segment and Related Information | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment and Related Information | Segment and Related Information The Company's operations are managed through three operating segments: South, East and Midwest regions. These three operating segments and corporate entities are presented below as its reportable segments. The historical results, discussion and presentation of the Company's reportable segments are the result of its integrated waste management services consisting of collection, transfer, recycling and disposal of non-hazardous solid waste. Summarized financial information concerning our reportable segments for fiscal 2015 , 2014 and 2013 is shown in the following table: Services Revenue Operating Income (Loss) Depreciation and Amortization Capital Expenditures Total Assets 2015 South $ 488.7 $ 66.9 $ 73.2 $ 52.1 $ 1,152.4 East 366.3 25.0 74.0 46.4 791.0 Midwest 541.5 61.1 103.8 76.2 1,447.3 Corporate (0.1 ) (57.9 ) 8.1 5.0 31.6 $ 1,396.4 $ 95.1 $ 259.1 $ 179.7 $ 3,422.3 2014 South $ 493.7 $ 72.2 $ 70.3 $ 52.3 $ 1,188.9 East 364.3 8.7 85.1 63.7 810.7 Midwest 545.2 51.2 108.1 73.1 1,437.3 Corporate (0.2 ) (62.7 ) 7.9 7.3 52.6 $ 1,403.0 $ 69.4 $ 271.4 $ 196.4 $ 3,489.5 2013 South $ 475.4 $ 66.4 $ 79.0 $ 63.2 $ 1,216.0 East 331.1 7.7 78.7 29.2 802.8 Midwest 512.6 39.6 112.6 53.8 1,460.6 Corporate — (91.6 ) 8.6 11.9 74.8 $ 1,319.1 $ 22.1 $ 278.9 $ 158.1 $ 3,554.2 |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | Supplemental Cash Flow Information Supplemental cash flow information for the years ended December 31 is as follows: 2015 2014 2013 Cash paid for interest $ 116.4 $ 119.7 $ 119.1 Cash paid for taxes $ 2.4 $ 3.2 $ 0.6 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income The changes in the balances of each component of accumulated other comprehensive income, net of tax, which is included as a component of stockholders’ equity, are as follows: Gains and Losses on Derivative Instruments Balance, December 31, 2012 (2.2 ) Other comprehensive loss before reclassifications, net of tax 2.3 Amounts reclassified from accumulated other comprehensive income 2.4 Net current period other comprehensive loss 4.7 Balance, December 31, 2013 2.5 Other comprehensive income before reclassifications, net of tax (1.0 ) Net current period other comprehensive income (1.0 ) Balance, December 31, 2014 1.5 Other comprehensive income before reclassifications, net of tax (1.5 ) Net current period other comprehensive income (1.5 ) Balance, December 31, 2015 — The significant amounts either added to or reclassified out of each component of accumulated other comprehensive income are included in the tables below: Amount of Derivative Gain (Loss) Derivatives Designated as Cash Flow Hedges 2015 2014 2013 Interest rate caps (2.0 ) (1.4 ) 2.6 Other $ — $ — $ 0.5 Total before tax (2.0 ) (1.4 ) 3.1 Tax benefit (expense) 0.5 0.4 (0.8 ) Net of tax $ (1.5 ) $ (1.0 ) $ 2.3 |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited) The following table summarizes the unaudited quarterly results of operations for the respective quarters: First Quarter Second Quarter Third Quarter Fourth Quarter 2015 Operating revenues $ 330.4 $ 355.2 $ 361.3 $ 349.5 Income from operations $ 24.0 $ 13.7 $ 32.5 $ 24.9 Consolidated net loss $ (10.8 ) $ (8.5 ) $ (5.5 ) $ (8.8 ) 2014 Operating revenues $ 321.3 $ 359.9 $ 368.1 $ 353.7 Income from operations $ 8.3 $ 16.0 $ 25.8 $ 19.3 Consolidated net (loss) income (a) $ (19.3 ) $ (15.4 ) $ (6.5 ) $ 24.1 (a) In the fourth quarter of 2014, the Company recorded a loss on commodity futures contracts related to fuel of $27.3 in other income/(expense), net due to a decline in fuel prices in the fourth quarter of 2014 and recorded a valuation allowance release of $51.4 related to a legal entity restructuring project. Refer to Note 18 "Income Taxes" for further information. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Name Change On January 18, 2016, the Board approved a change in the Company’s name from ADS Waste Holdings, Inc. to “Advanced Disposal Services, Inc.” The change in the Company’s name was effected by the filing of a Certificate of Amendment, pursuant to Section 242 of the Delaware General Corporation Law, on January 27, 2016. Return of Capital In January 2016, the Company returned capital to the parent of $9.6 . Borrowings on the Revolver The Company borrowed $25.0 on the Revolving Credit Facility, net of repayments, subsequent to December 31, 2015. Postponement of Initial Public Offering The Company initiated a public offering of equity securities on February 1, 2016. Due to market conditions, the Company did not complete the public offering which resulted in the write off of deferred offerings costs in the amount of $2.2 for the year ended December 31, 2015. |
Summary of Significant Accoun34
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s consolidated financial statements include its wholly-owned subsidiaries of Advanced Disposal Services South, Inc. and HWStar Holdings Corp. and their respective subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates In preparing its financial statements that conform with accounting principles generally accepted in the United States of America, the Company uses estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. The Company must make these estimates and assumptions because certain information is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. In preparing its financial statements, the more subjective areas that deal with the greatest amount of uncertainty relate to accounting for long-lived assets, including recoverability, landfill development costs, and final capping, closure and post-closure costs, valuation allowances for accounts receivable and deferred tax assets, liabilities for potential litigation, claims and assessments, liabilities for environmental remediation, stock compensation, accounting for goodwill and intangible asset impairments, deferred taxes, uncertain tax positions, self-insurance reserves, and estimates of the fair values of assets acquired and liabilities assumed in any acquisition. Each of these items is discussed in more detail elsewhere in these Notes to the Consolidated Financial Statements. The Company's actual results may differ significantly from our estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents includes cash on hand, bank demand deposit accounts, and overnight sweep accounts. Cash equivalents include highly liquid investments with original maturities of three months or less when purchased. |
Restricted Cash | Restricted Cash Restricted cash consists of amounts held for landfill closure and post-closure financial assurance. The balances will fluctuate based on changes in statutory requirements, future deposits made to comply with contractual arrangements, ongoing use of funds for qualifying events or the acquisitions or divestitures of landfills. |
Parts and Supplies Inventory | Parts and Supplies Inventory Parts and supplies consist primarily of spare parts, fuel, tires, lubricants and processed recycled materials. Parts and supplies are stated at the lower of cost or market value utilizing an average cost method and are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets. |
Revenue Recognition | Revenue Recognition The Company recognizes revenues as the services are provided. Revenue is recognized as waste is collected, as tons are received at the landfill or transfer stations, as recycled commodities are delivered to a customer, or as services are rendered to customers. Certain customers are billed and pay in advance and, accordingly, recognition of the related revenues is deferred until the services are provided. Revenues are reported net of applicable state landfill taxes. |
Trade Receivables | Trade Receivables The Company records trade receivables when billed or when services are performed, as they represent claims against third parties that will generally be settled in cash. The carrying value of receivables, net of the allowance for doubtful accounts, represents the estimated net realizable value. The Company estimates losses for uncollectible accounts based on an evaluation of the aged accounts receivable and the likelihood of collection of the receivable based on historical collection data and existing economic conditions. If events or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the collectability of those balances. |
Insurance Reserves | Insurance Reserves The Company uses a combination of insurance with high deductibles and self-insurance for various risks including workers compensation, vehicle liability, general liability and employee group health claims. The exposure for unpaid claims and associated expenses, including incurred but not reported losses, is estimated by factoring in pending claims and historical trends data and other actuarial assumptions. In estimating our claims liability, we analyze our historical trends, including loss development and apply appropriate loss development factors to the incurred costs associated with the claims. The discounted estimated liability associated with settling unpaid claims is included in accrued expenses and other long-term liabilities in the consolidated balance sheets. |
Concentrations of Credit Risk | Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, accounts receivable and derivative instruments. The Company maintains cash and cash equivalents with banks that at times exceed applicable insurance limits. The Company reduces its exposure to credit risk by maintaining such deposits with high quality financial institutions. The Company has not experienced any losses in such accounts. The Company generally does not require collateral on its trade receivables. Credit risk on accounts receivable is minimized as a result of the large and diverse nature of the Company’s customer base and its ability to discontinue service, to the extent allowable, to non-paying customers. |
Asset Impairments | Asset Impairments The Company monitors the carrying value of its long-lived assets for potential impairment and test the recoverability of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. These events or changes in circumstances, including management decisions pertaining to such assets, are referred to as impairment indicators. Typical indicators that an asset may be impaired include (i) a significant adverse change in legal factors in the business climate, (ii) an adverse action or assessment by a regulator, and (iii) a significant adverse change in the extent or manner in which a long-lived asset is being utilized or in its physical condition. If an impairment indicator occurs, the Company performs a test of recoverability by comparing the carrying value of the asset or asset group to its undiscounted expected future cash flows. If cash flows cannot be separately and independently identified for a single asset, the Company will determine whether an impairment has occurred for the asset group for which it can identify the projected cash flows. If the carrying values are in excess of undiscounted expected future cash flows, the Company measures any impairment by comparing the fair value of the asset or asset group to its carrying value. Fair value is generally determined by considering (i) internally developed discounted projected cash flow analysis of the asset or asset group; (ii) third-party valuations; and/or (iii) information available regarding the current market for similar assets. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying value exceeds the fair value of the asset. |
Property and Equipment, Net | Property and Equipment, Net Property and equipment are recorded at cost, less accumulated depreciation. Expenditures for major additions and improvements are capitalized and maintenance activities are expensed as incurred. When property and equipment are retired, sold, or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the results of operations. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. Depreciation expense is calculated using the straight-line method over the estimated useful lives or the lease term, whichever is shorter. Estimated useful lives are as follows: Years Vehicles 5–10 Machinery and equipment 3–10 Containers 5–15 Furniture and fixtures 5–7 Building and improvements 5–39 |
Leases | Leases The Company leases property and equipment in the ordinary course of its business. The most significant lease obligations are for property and equipment specific to the waste industry, including real property operated as landfills and transfer stations. The Company's leases have varying terms. Some may include renewal or purchase options, escalation clauses, restrictions, penalties or other obligations that are considered in determining minimum lease payments. The leases are classified as either operating leases or capital leases, as appropriate. The majority of the Company's leases are operating leases. This classification generally can be attributed to either (i) relatively low fixed minimum lease payments as a result of real property lease obligations that vary based on the volume of waste we receive or process or (ii) minimum lease terms that are much shorter than the assets’ economic useful lives. The Company expects that in the normal course of business, its operating leases will be renewed, replaced by other leases, or replaced with fixed asset expenditures. The Company's rent expense during each of the last three years and its future minimum operating lease payments for each of the next five years for which it is contractually obligated as of December 31, 2015 is disclosed in Note 14. Assets under capital leases are capitalized using interest rates determined at the inception of each lease and are amortized over the lesser of the useful life of the asset or the lease term, as appropriate, on a straight-line basis. The present value of the related lease payments is recorded as a debt obligation. From an operating perspective, landfills that are leased are similar to landfills the Company owns because generally the Company owns the landfill’s operating permit and will operate the landfill for the entire lease term, which in many cases is the life of the landfill. As a result, the Company's landfill leases are generally capital leases. For landfill capital leases that provide for minimum contractual rental obligations, the Company records the present value of the minimum obligation as part of the landfill asset, which is amortized on a units-of-consumption basis over the shorter of the lease term or the life of the landfill. |
Landfill Accounting | Landfill Accounting Costs Basis of Landfill Assets — Landfills are typically developed in a series of cells, each of which is constructed, filled and capped in sequence over the operating life of the landfill. When the final cell is filled and the operating life of the landfill is completed, the cell must be capped and then closed and post-closure care and monitoring activities begin. Capitalized landfill costs include expenditures for land (which includes the land of the landfill footprint and landfill buffer property and setbacks) and related airspace associated with the permitting, development and construction of new landfills, expansions at existing landfills, landfill gas systems and landfill cell development. Landfill permitting, development and construction costs represent direct costs related to these activities, including land acquisition, engineering, legal and construction. These costs are deferred until all permits are obtained and operations have commenced at which point they are capitalized and amortized. If necessary permits are not obtained, costs are charged to operations. The cost basis of our landfill assets also includes asset retirement costs, which represent estimates of future costs associated with landfill final capping, closure and post-closure activities. Final Capping, Closure and Post-Closure Costs — The following is a description of the Company's asset retirement activities and related accounting: Final Capping — Includes installing flexible membrane and geosynthetic clay liners, drainage and compact soil layers, and topsoil, and is constructed over an area of the landfill where total airspace capacity has been consumed and waste disposal operations have ceased. These final capping activities occur in phases as needed throughout the operating life of a landfill as specific areas are filled to capacity and the final elevation for that specific area is reached in accordance with the provisions of the operating permit. Final capping asset retirement obligations are recorded on a units-of-consumption basis as airspace is consumed related to the specific final capping event with a corresponding increase in the landfill asset. Each final capping event is accounted for as a discrete obligation and recorded as an asset and a liability based on estimates of the discounted cash flows and capacity associated with each final capping event. Closure and post-closure — These activities involve methane gas control, leachate management and groundwater monitoring, surface water monitoring and control, and other operational and maintenance activities that occur after the site ceases to accept waste. The post-closure period generally runs for 30 years or longer after final site closure for landfills. Landfill costs related to closure and post-closure are recorded as an asset retirement obligation as airspace is consumed over the life of the landfill with a corresponding increase in the landfill asset. Obligations are recorded over the life of the landfill based on estimates of the discounted cash flows associated with performing the closure and post-closure activities. The Company annually updates its estimates for these obligations considering the respective State regulatory requirements, input from our internal engineers, operations, accounting personnel and external consulting engineers. The closure and post-closure requirements are established under the standards of the U.S. Environmental Protection Agency’s Subtitle D regulations as implemented and applied on a state-by-state basis. These estimates involve projections of costs that will be incurred as portions of the landfill are closed and during the post-closure monitoring period. Capping, closure and post-closure costs are estimated assuming such costs would be incurred by a third party contractor in present day dollars and are inflated by the 25 -year average change in the historical Consumer Price Index ("CPI") (consistent historical rate which agrees to historical CPI per government website of 2.50% from 1990 to 2015) to the time periods within which it is estimated the capping, closure and post-closure costs will be expended. The Company discounts these costs to present value using the credit-adjusted, risk-free rate effective at the time an obligation is incurred, consistent with the expected cash flow approach. Any change that results in an upward revision to the estimated cash flows are treated as a new liability and discounted at the current rate while downward revisions are discounted at the historical weighted-average rate of the recorded obligation. As a result, the credit-adjusted, risk-free discount rate used to calculate the present value of an obligation is specific to each individual asset retirement obligation. The range of rates utilized within the calculation of the asset retirement obligations at December 31, 2015 is between 6.4% and 10.5% . The Company records the estimated fair value of the final capping, closure and post-closure liabilities for its landfills based on the capacity consumed in the current period. The fair value of the final capping obligations is developed based on the Company’s estimates of the airspace consumed to date for each final capping event and the expected timing of each final capping event. The fair value of closure and post-closure obligations is developed based on the Company’s estimates of the airspace consumed to date for the entire landfill and the expected timing of each closure and post-closure activity. Because these obligations are measured at estimated fair value using present value techniques, changes in the estimated cost or timing of future final capping, closure and post-closure activities could result in a material change in these liabilities, related assets and results of operations. The Company assesses the appropriateness of the estimates used to develop our recorded balances annually, or more often if significant facts change. Changes in inflation rates or the estimated costs, timing or extent of future final capping, closure and post-closure activities typically result in both (i) a current adjustment to the recorded liability and landfill asset; and (ii) a change in liability and asset amounts to be recorded prospectively over either the remaining capacity of the related discrete final capping event or the remaining permitted and expansion airspace (as defined below) of the landfill. Any changes related to the capitalized and future cost of the landfill assets are then recognized in accordance with the Company's amortization policy, which would generally result in amortization expense being recognized prospectively over the remaining capacity of the final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Changes in such estimates associated with airspace that has been fully utilized result in an adjustment to the recorded liability and landfill assets with an immediate corresponding adjustment to landfill airspace amortization expense. Interest accretion on final capping, closure and post-closure liabilities is recorded using the effective interest method and is recorded in operating expenses in the consolidated statements of operations. Amortization of Landfill Assets — The amortizable basis of a landfill includes (i) amounts previously expended and capitalized; (ii) capitalized and projected landfill final capping, closure and post-closure costs; (iii) projections of future acquisition and development costs required to develop the landfill site to its remaining permitted and expansion capacity; and (iv) land underlying both the footprint of the landfill and the surrounding required setbacks and buffer land. Amortization is recorded on a units-of-consumption basis, applying expense as a rate per ton. The rate per ton is calculated by dividing each component of the amortizable basis of a landfill by the number of tons needed to fill the corresponding asset’s airspace. For landfills that the Company does not own, but operates through operating or lease arrangements, the rate per ton is calculated based on expected capacity to be utilized over the lesser of the contractual term of the underlying agreement or the life of the landfill. Landfill site costs are depleted to zero upon final closure of a landfill. The Company develops its estimates of the obligations using input from its operations personnel, engineers and accountants. The obligations are based upon interpretation of current requirements and proposed regulatory changes and are intended to approximate fair value. The estimate of fair value is based upon present value techniques using historical experience and, where available, quoted or actual market prices paid for similar work. The determination of airspace usage and remaining airspace is an essential component in the calculation of landfill asset depletion. This estimation is performed by conducting periodic topographic surveys, using aerial survey techniques, of the Company’s landfill facilities to determine remaining airspace in each landfill. The surveys are reviewed by the Company’s external consulting engineers, internal operating staff, and its management, financial and accounting staff. Remaining airspace will include additional “deemed permitted” or unpermitted expansion airspace if the following criteria are met: (1) The Company must either own the property for the expansion or have a legal right to use or obtain property to be included in the expansion plan; (2) Conceptual design of the expansion must have been completed; (3) Personnel are actively working to obtain land use and local and state approvals for an expansion of an existing landfill and the application for expansion must reasonably be expected to be received within the normal application and processing time periods for approvals in the jurisdiction in which the landfill is located; (4) There are no known significant technical, community, business, or political restrictions or similar issues that would likely impair the success of the expansion; and (5) Financial analysis has been completed and the results demonstrate that the expansion has a positive financial and operational impact. Senior management must have reviewed and approved all of the above. Of the Company's 39 active landfills, fifteen include deemed permitted airspace at December 31, 2015 . Upon successful meeting of the preceding criteria, the costs associated with developing, constructing, closing and monitoring the total additional future capacity are considered in the calculation of the amortization and closure and post-closure rates. Once expansion airspace meets these criteria for inclusion in the Company’s calculation of total available disposal capacity, management continuously monitors each site’s progress in obtaining the expansion permit. If at any point it is determined that an expansion area no longer meets the required criteria, the deemed expansion airspace is removed from the landfill’s total available capacity, and the rates used at the landfill to amortize costs to acquire, construct, close and monitor the site during the post-closure period are adjusted prospectively. In addition, any amounts related to the probable expansion are charged to expense in the period in which it is determined that the criteria are no longer met. Once the remaining permitted and expansion airspace is determined in cubic yards, an airspace utilization factor (“AUF”) is established to calculate the remaining permitted and expansion capacity in tons. The AUF is established using the measured density obtained from previous annual surveys and is then adjusted to account for future settlement. The amount of settlement that is forecasted will take into account several site-specific factors including: current and projected mix of waste type, initial and projected waste density, estimated number of years of life remaining, depth of underlying waste, anticipated access to moisture through precipitation or recirculation of landfill leachate and operating practices. In addition, the initial selection of the AUF is subject to a subsequent multi-level review by our engineering group, and the AUF used is reviewed on a periodic basis and revised as necessary. The Company's historical experience generally indicates that the impact of settlement at a landfill is greater later in the life of the landfill when the waste placed at the landfill approaches its highest point under the permit requirements. After determining the costs and remaining permitted and expansion capacity at each of its landfills, the Company determines the per ton rates that will be expensed as waste is received and deposited at the landfill by dividing the costs by the corresponding number of tons. The Company calculates per ton amortization rates for each landfill for assets associated with each final capping event, for assets related to closure and post-closure activities and for all other costs capitalized or to be capitalized in the future. These rates per ton are updated annually, or more often, as significant facts change. It is possible that the Company’s estimates or assumptions could ultimately be significantly different from actual results. In some cases the Company may be unsuccessful in obtaining an expansion permit or the Company may determine that an expansion permit that it previously thought was probable has become unlikely. To the extent that such estimates, or the assumptions used to make those estimates, prove to be significantly different than actual results, or the belief that the Company will receive an expansion permit changes adversely in a significant manner, the costs of the landfill, including the costs incurred in the pursuit of the expansion, may be subject to impairment testing and lower profitability may be experienced due to higher amortization rates, higher capping, closure and post-closure rates, and higher expenses or asset impairments related to the removal of previously included expansion airspace. The assessment of impairment indicators and the recoverability of the Company's capitalized costs associated with landfills and related expansion projects require significant judgment due to the unique nature of the waste industry, the highly regulated permitting process and the estimates involved. During the review of a landfill expansion application, a regulator may initially deny the expansion application although the permit is ultimately granted. In addition, the Company may periodically divert waste from one landfill to another to conserve remaining permitted landfill airspace, or a landfill may be required to cease accepting waste, prior to receipt of the expansion permit. However, such events occur in the ordinary course of business in the waste industry and do not necessarily result in an impairment of the landfill assets because, after consideration of all facts, such events may not affect the belief that the Company will ultimately obtain the expansion permit. |
Capitalized Interest | Capitalized Interest The Company capitalizes interest on certain projects under development, including landfill construction projects. |
Derivative Financial Instruments | Derivative Financial Instruments The Company uses interest rate caps to manage interest rate risk on its variable rate debt. The Company uses commodity futures contracts as an economic hedge to reduce the exposure of changes in diesel fuel and natural gas prices. The instruments qualifying for hedge accounting treatment have been designated as cash flow hedges for accounting purposes with changes in fair value, to the extent effective, recognized in accumulated other comprehensive income within the equity section of the consolidated balance sheets. Amounts are reclassified into earnings when the forecasted transaction affects earnings. Any ineffectiveness for those instruments that do not qualify for hedge accounting, the amount of ineffectiveness or change in market value, respectively is recognized into earnings immediately without offset. The commodity futures contracts do not qualify for hedge accounting and as such changes in fair value are recognized in other (expense) income, net in the consolidated statements of operations. The fair values of the derivatives are included in other current or long-term assets or other current or long term liabilities as appropriate. The Company obtains current valuations of its commodity futures contracts and interest rate caps based on quotes received from financial institutions that trade these contracts and a current forward fixed price swap curve, respectively. |
Debt Issuance Costs | Debt Issuance Costs The costs related to the issuance of debt are deferred and recorded as a reduction to the carrying value of debt and amortized to interest expense using the effective interest method. During fiscal 2014 and 2013, the Company refinanced its Term B Loan and the transaction was accounted for as a modification of debt. |
Acquisitions | Acquisitions The Company recognizes assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities, based on fair values as of the date of acquisition. Any excess of purchase price over the fair value of the net assets acquired is recorded as goodwill. In certain acquisitions, the Company agrees to pay additional amounts to sellers contingent upon achievement by the acquired businesses of certain negotiated goals, such as targeted revenue levels, targeted disposal volumes or the issuance of permits for expanded landfill airspace. The Company has recognized liabilities for these contingent obligations based on their estimated fair value at the date of acquisition with any differences between the acquisition date fair value and the ultimate settlement of the obligations being recognized as an adjustment to income from operations. Assets and liabilities arising from contingencies such as pre-acquisition environmental matters and litigation are recognized at their acquisition date fair value when their respective fair values can be determined. If the fair values of such contingencies cannot be determined, the Company reports provisional amounts for which the accounting is incomplete. Acquisition date fair value estimates are revised as necessary and accounted for as an adjustment to the purchase accounting balances prior to the close of the purchase accounting window. If the purchase accounting window has closed, these estimates are accounted for as adjustments to income from operations if, and when, additional information becomes available to further define and quantify assets acquired and liabilities assumed. All acquisition-related transaction costs have been expensed as incurred. |
Goodwill | Goodwill Goodwill is the excess of the purchase price over the fair value of the net identifiable assets of acquired businesses. The Company does not amortize goodwill. Goodwill is subject to at least an annual assessment for impairment by evaluating quantitative factors. The Company performs a quantitative assessment or two-step impairment test to determine whether a goodwill impairment exists at a reporting unit. The reporting units are equivalent to the Company’s segments and when an individual business within an integrated operating segment is divested, goodwill is allocated to that business based on its fair value relative to the fair value of its operating segment. The Company compares the fair value with its carrying amount to determine if there is potential impairment of goodwill. If the carrying value exceeds estimated fair value, there is an indication of potential impairment and the second step is performed to measure the amount of impairment. Fair value is estimated using an equal weighting between a market approach and an income approach based on forecasted cash flows. Fair value computed via this method is arrived at using a number of factors, including projected future operating results, economic projections, anticipated future cash flows and comparable marketplace data. There are inherent uncertainties related to these factors and applying them to this analysis. However, the Company believes that this method provides a reasonable approach to estimating the fair value of its reporting units. The Company performs its annual assessment as of December 31 of each year. The impairment test indicated the fair value of each reporting unit exceeded the carrying value. If the Company does not achieve its anticipated disposal volumes, our collection or disposal rates decline, costs or capital expenditures exceed forecasts, costs of capital increase, or the Company does not receive landfill expansions, the estimated fair value could decrease and potentially result in an impairment charge in the future. Refer to Note 4 for information regarding impairment charges recorded in connection with discontinued operations. |
Intangible Assets, Net | Intangible Assets, Net Intangible assets are stated at cost less accumulated amortization and consist of noncompete agreements, tradenames, customer contracts and customer lists and are amortized over their estimated useful lives. The carrying values of intangibles are periodically reviewed by the Company to determine if the facts and circumstances suggest that they may be impaired. If the carrying value exceeds estimated fair value, an impairment charge would be recognized in the amount of the excess. Fair value is typically estimated using an income approach for the respective asset, as described above. |
Income Taxes | Income Taxes The Company is subject to income tax in the United States. Current tax obligations associated with the provision for income taxes are reflected in the accompanying consolidated balance sheets as a component of accrued expenses and the deferred tax obligations are reflected in deferred income tax asset or liability. Deferred income taxes arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred income taxes are classified as noncurrent as discussed in "New Accounting Standards" below. Significant judgment is required in assessing the timing and amounts of deductible and taxable items. The Company establishes reserves for uncertain tax positions, when despite its belief that its tax return positions are fully supportable, the Company believes that certain positions may be challenged and potentially disallowed. When facts and circumstances change, the Company adjusts these reserves through its provision for income taxes. To the extent interest and penalties may be assessed by taxing authorities on any underpayment of income tax, such amounts have been accrued and are classified as a component of tax expense in the consolidated statements of operations. |
Contingencies | Contingencies The Company is subject to various legal proceedings, claims and regulatory matters, the outcomes of which are subject to significant uncertainty. In general, the Company determines whether to disclose or accrue for loss contingencies based on an assessment of whether the risk of loss is remote, reasonably possible or probable, and whether it can be reasonably estimated. The Company assesses its potential liability relating to litigation and regulatory matters based on information available. The Company develops its assessment based on an analysis of possible outcomes under various strategies. The Company accrues for loss contingencies when such amounts are probable and reasonably estimable. If a contingent liability is only reasonably possible, the Company discloses the potential range of the loss, if estimable. |
New Accounting Standards | New Accounting Standards In November 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-17 Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes, requiring all deferred tax assets and liabilities, and any related valuation allowance, to be classified as non-current on the balance sheet. The classification change for all deferred taxes as non-current simplifies entities’ processes as it eliminates the need to separately identify the net current and net non-current deferred tax asset or liability in each jurisdiction and allocate valuation allowances. For a public entity, the amendments in this update are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is permitted for financial statements not previously issued. The Company elected to prospectively adopt the accounting standard in the beginning of the fourth quarter of fiscal 2015. Prior periods in the Consolidated Financial Statements were not retrospectively adjusted. In August 2015, the FASB issued ASU No. 2015-15, "Interest - Imputation of Interest (Sub-Topic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements". Given the absence of authoritative guidance within ASU 2015-03 for debt issuance costs related to line-of-credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. As with ASU No. 2015-03, for a public entity, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Early application is permitted for financial statements that have not been previously issued. The standard should be adopted retrospectively to each prior reporting period presented and adjusted to reflect the period-specific effects of applying the new guidance. The Company elected to adopt the accounting standard in the beginning of the fourth quarter of fiscal 2015. Prior periods in the Consolidated Financial Statements were not impacted by the adoption of this standard. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest, which changes the financial statement presentation of debt issuance costs to be a direct reduction to long-term debt, rather than presented as a long-term asset. The amortization of debt issuance costs will continue to be included in interest expense. This standard is effective for annual reporting periods beginning after December 15, 2015 with early adoption permitted. The Company elected to adopt the accounting standard in the beginning of the fourth quarter of fiscal 2015. Prior periods in the Consolidated Financial Statements have been retrospectively adjusted. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which supersedes previous revenue recognition guidance. The new standard requires that a company recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the company expects to receive in exchange for those goods or services. Companies will need to use more judgment and estimates than under the guidance currently in effect, including estimating the amount of variable revenue to recognize over each identified performance obligation. Additional disclosures will be required to help users of financial statements understand the nature, amount and timing of revenue and cash flows arising from contracts. In July 2015, the FASB approved a one-year deferral of the effective date. This standard will now become effective for the Company beginning with the first quarter 2018 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. The Company is currently evaluating the impact of adopting this new guidance on the consolidated financial statements. |
Fair Value Measurement | As a basis for considering assumptions, the fair value guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 Observable inputs such as quoted prices in active markets; Level 2 Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3 Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value are based on one or more of three valuation techniques noted in the guidance. The three valuation techniques are as follows: Market approach Prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities; Cost approach Amount that would be required to replace the service capacity of an asset (i.e., replacement cost); and; Income approach Techniques to convert future amounts to a single present amount are based on market expectations (including present value techniques, option-pricing models, and lattice models). The Company’s financial assets and liabilities recorded at fair value on a recurring basis include derivative instruments and certain investments included in cash equivalent money market funds. The Company’s fuel derivative instruments and interest rate caps are recorded at their estimated fair values based on quotes received from financial institutions that trade these contracts and a current forward fixed price swap curve, respectively. The Company verifies the reasonableness of these quotes using similar quotes from another financial institution as of each date for which financial statements are prepared. For the Company’s fuel derivative instruments, the Company also considers the Company's and counterparty’s credit worthiness in its determination of the fair value measurement of these instruments in a net liability position. The Company’s restricted cash measured at fair value is invested primarily in U.S. government and agency securities. All instruments were valued using the market approach. The Company's interest rate caps are valued using a third-party pricing model that incorporates information about LIBOR yield curves, which is considered observable market data, for each instrument’s respective term. Counterparties to the Company's interest rate caps are financial institutions who participate in the term B loan. Valuations of those interest rate caps may fluctuate significantly from period to period due to volatility in valuation interest rates which are driven by market conditions and the scheduled maturities of the caps. |
Summary of Significant Accoun35
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Estimated Useful Lives of Property and Equipment, Net | Estimated useful lives are as follows: Years Vehicles 5–10 Machinery and equipment 3–10 Containers 5–15 Furniture and fixtures 5–7 Building and improvements 5–39 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired by year of acquisition: 2015 2014 Current assets $ 2.8 $ 0.5 Property and equipment 20.4 2.6 Goodwill 12.0 1.3 Other intangible assets 31.2 5.5 Total assets acquired 66.4 9.9 Current liabilities 4.3 1.3 Total liabilities assumed 10.1 1.3 Net assets acquired $ 56.3 $ 8.6 |
Schedule of Purchase Price Allocation to Other Intangible Assets | The following table presents the allocation of the purchase price to other intangible assets: 2015 2014 Customer lists and contracts $ 27.8 $ 4.3 Noncompete 2.6 1.2 Other 0.8 — $ 31.2 $ 5.5 |
Schedule of Weighted Average Remaining Life of Other Intangible Assets | The weighted average life of other intangible assets in years is as follows: Customer lists and contracts 15 Noncompete 5 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Summary of Revenues and Expenses from Discontinued Operations | The following table summarizes the revenues and expenses of those businesses that are presented as discontinued operations in the accompanying consolidated statements of operations for the years ended December 31, 2015 , 2014 and 2013 . 2015 2014 2013 Service revenues $ — $ 0.4 $ 104.3 Operating costs and expenses Operating expenses — 0.9 98.7 Selling, general and administrative — 0.3 6.9 Depreciation and amortization — 0.3 5.9 Gain on disposal of assets — (0.4 ) — Asset impairment — — 22.4 Total expenses — 1.1 133.9 Other (expense) income Interest expense — — — Total other (expense) income — — — Loss from discontinued operations before income tax — (0.7 ) (29.6 ) Tax benefit — (1.0 ) (7.1 ) Income (loss) from discontinued operations, net of taxes $ — $ 0.3 $ (22.5 ) |
Restricted Cash (Tables)
Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of Restricted Cash | Restricted cash consists of the following at December 31: 2015 2014 Funds held for landfill closure and post-closure financial assurance $ — $ 0.2 |
Valuation Allowances (Tables)
Valuation Allowances (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation Allowances [Abstract] | |
Summary of Allowance for Doubtful Accounts | Allowance for doubtful accounts consists of the following at December 31: 2015 2014 2013 Beginning balance $ 5.0 $ 8.4 $ 4.0 Provision for doubtful accounts 4.0 4.2 7.7 Recovery of bad debts 2.2 0.6 1.7 Write-offs of bad debt (7.0 ) (8.2 ) (5.4 ) Other 0.2 — 0.4 $ 4.4 $ 5.0 $ 8.4 |
Deferred Tax Asset Valuation Allowances | The deferred tax asset valuation allowances at December 31 consist of the following: 2015 2014 2013 Balance at January 1, $ 96.1 $ 141.6 $ 128.1 Decrease in valuation allowance for tax provision for continuing operations (0.9 ) (51.4 ) — Increase in valuation allowance for tax provision for continuing operations — 5.9 7.6 Additions from purchase accounting — — 5.9 Balance at December 31, $ 95.2 $ 96.1 $ 141.6 |
Prepaid Expenses and Other Cu40
Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Summary of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consist of the following at December 31: 2015 2014 Prepaid insurance $ 5.6 $ 6.3 Prepaid expenses 15.4 15.8 Other receivables and current assets 4.2 3.0 Parts and supplies inventory 8.2 9.1 $ 33.4 $ 34.2 |
Derivative Instruments and He41
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Fair Value of Derivative Instruments Recorded in Combined Consolidated Balance Sheets | The following table summarizes the fair value of derivative instruments recorded in our consolidated balance sheets. Derivatives Designated Balance Sheet Location 2015 2014 Interest rate caps Other current assets 0.2 2.7 Derivatives Not Designated Fuel commodity derivatives Other current liabilities 16.2 20.6 Fuel commodity derivatives Other long-term liabilities — 6.7 Total derivatives $ 16.0 $ 24.6 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment, net consist of the following at December 31: 2015 2014 Land $ 193.8 $ 186.0 Landfill site costs 1,277.3 1,281.6 Vehicles 539.4 490.8 Containers 271.4 261.8 Machinery and equipment 141.2 134.4 Furniture and fixtures 21.0 24.1 Building and improvements 159.1 155.3 Construction in process 54.2 44.4 2,657.4 2,578.4 Less: Accumulated depreciation on property and equipment (500.4 ) (411.8 ) Less: Accumulated landfill airspace amortization (507.1 ) (502.7 ) $ 1,649.9 $ 1,663.9 |
Landfill Accounting (Tables)
Landfill Accounting (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Summary of Liabilities for Final Closure and Post-Closure Costs | Liabilities for final closure and post-closure costs consist of the following for the years ended December 31: 2015 2014 Balance at January 1 $ 201.1 $ 184.3 Increase in retirement obligation 9.8 11.5 Accretion of closure and post-closure costs 13.1 13.5 Disposition (3.2 ) — Change in estimate (2.9 ) 5.6 Costs incurred (24.2 ) (13.8 ) 193.7 201.1 Less: Current portion (30.2 ) (29.2 ) Balance at December 31 $ 163.5 $ 171.9 |
Other Intangible Assets, Net 44
Other Intangible Assets, Net and Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets, Net | Intangible assets, net consist of the following at December 31: 2015 Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value Weighted Average Remaining Life (Years) Noncompete agreements $ 19.0 $ (14.6 ) $ — $ 4.4 2.9 Tradenames 17.2 (7.8 ) — 9.4 15.5 Customer lists and contracts 510.6 (163.1 ) — 347.5 13.6 Operating permits 2.9 — — 2.9 N/A Above/below market leases 0.4 (0.1 ) — 0.3 10.6 $ 550.1 $ (185.6 ) $ — $ 364.5 2014 Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value Weighted Average Remaining Life (Years) Noncompete agreements $ 16.9 $ (12.5 ) $ (0.1 ) $ 4.3 2.3 Tradenames 17.0 (7.1 ) — 9.9 16.6 Customer lists and contracts 491.3 (125.6 ) (2.5 ) 363.2 14.6 Operating permits 2.2 — — 2.2 N/A Above/below market leases 0.4 (0.1 ) — 0.3 11.6 $ 527.8 $ (145.3 ) $ (2.6 ) $ 379.9 |
Schedule of Future Amortization Expense for Intangible Assets | Future amortization expense for intangible assets for the year ending December 31 is estimated to be: 2016 44.4 2017 40.9 2018 38.1 2019 29.4 2020 29.0 Thereafter 182.7 $ 364.5 |
Schedule of Changes in the Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 are as follows: Goodwill Accumulated Impairment Goodwill, Net December 31, 2013 $ 1,253.9 $ (87.5 ) $ 1,166.4 Acquisition 1.3 — 1.3 Disposition of businesses — (0.8 ) (0.8 ) December 31, 2014 1,255.2 (88.3 ) 1,166.9 Acquisition 12.0 — 12.0 Disposition of businesses — (5.4 ) (5.4 ) December 31, 2015 $ 1,267.2 $ (93.7 ) $ 1,173.5 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Summary of Accrued Expenses | Accrued expenses consist of the following at December 31: 2015 2014 Accrued compensation and benefits $ 32.4 $ 28.3 Accrued waste disposal costs 39.8 37.2 Accrued insurance and self-insurance reserves 15.1 14.9 Accrued severance 2.2 3.6 Derivative valuation 16.2 20.6 Other accrued expenses 30.0 26.1 $ 135.7 $ 130.7 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Summary of Long-Term Debt | Long-term debt consists of the following at December 31: 2015 2014 Revolving line of credit with lenders, interest at base rate plus margin, as defined (4.42% and 4.16% at December 31, 2015 and 2014, respectively) due quarterly; balance due at maturity on October 2017 $ 32.0 $ — Term loans; quarterly payments commencing March 31, 2013 through June 30, 2019 with final payment due October 9, 2019; interest at LIBOR floor of 0.75% plus an applicable margin 1,685.5 1,749.0 Senior notes payable; interest at 8.25% payable in arrears semi-annually commencing April 1, 2013; maturing on October 1, 2020. 550.0 550.0 Capital lease obligations, maturing through 2024 28.2 23.3 Other debt 20.0 4.9 2,315.7 2,327.2 Less: Original issue discount and debt issuance costs classified as a reduction to long-term debt (68.6 ) (84.2 ) Less: Current portion (49.1 ) (25.3 ) $ 2,198.0 $ 2,217.7 |
Schedule of Annual Aggregate Principal Maturities | Annual aggregate principal maturities at December 31, 2015 are as follows: 2016 $ 49.1 2017 29.6 2018 24.8 2019 1,649.3 2020 552.4 Thereafter 10.5 $ 2,315.7 |
Schedule of Total Leverage Ratio | The applicable margin for the term B loan is based on the total leverage ratio of the Company as follows: Total Leverage Ratio LIBOR Base Rate Alternate Base Rate <4.75:1.00 2.50% 2.50% ≥4.75:1.00 3.00% 3.00% The applicable margin for the Revolver is based on the total leverage ratio of the Company as follows: Total Leverage Ratio LIBOR Base Rate Alternate Base Rate <4.75:1.00 3.50% 2.50% ≥4.75:1.00 4.00% 3.00% |
Schedule of Estimated Fair Value of Debt | The estimated fair value of our debt is as follows at December 31: 2015 2014 Revolving Credit Facility $ 32.0 $ — Senior Notes $ 555.5 $ 550.0 Term Loan B Facility 1,639.2 1,692.2 $ 2,226.7 $ 2,242.2 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Leases [Abstract] | |
Schedule of Future Minimum Lease Payments | Future minimum lease payments as of December 31, 2015 for noncancelable operating leases that have initial or remaining terms in excess of one year are as follows: 2016 $ 5.8 2017 4.6 2018 4.2 2019 3.6 2020 3.0 Thereafter 18.7 $ 39.9 |
Stockholders' Equity and Stoc48
Stockholders' Equity and Stock Options (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Valuation Assumptions | The fair value of the options granted is estimated using the Black-Scholes option pricing model using the following assumptions: 2015 2014 2013 Average expected term (years) 6.9 6.0 6.0 Risk-free interest rate 1.76% - 1.93% 1.83% - 2.10% 0.93% Expected volatility 30.0% 30.0% 20.0% |
Annual Stock Options | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary of Stock Options Outstanding | A summary of the Annual Stock Options and Senior Management Stock Options outstanding for the year ended December 31, 2015 (in millions, except share and per share amounts) is as follows: Number of Shares Weighted - Average Exercise Price Weighted - Average Remaining Contractual Term Outstanding at January 1, 2015 38,928 $ 659 Granted 4,750 896 Exercised (117 ) 409 Expired or forfeited (1,925 ) 676 Outstanding at December 31, 2015 41,636 686 6.08 Exercisable at December 31, 2015 30,667 $ 628 5.45 |
Strategic Stock Options | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary of Stock Options Outstanding | A summary of the Strategic Stock Options for the year ended December 31, 2015 (in millions, except share and per share amounts) is as follows: Number of Shares Weighted - Average Exercise Price Weighted - Average Remaining Contractual Term Outstanding at January 1, 2015 39,728 $ 572 Granted 6,410 896 Exercised (715 ) 409 Expired or forfeited (4,085 ) 767 Outstanding at December 31, 2015 41,338 $ 606 4.79 Exercisable at December 31, 2015 21,608 $ 412 2.15 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Participation in Multiemployer Plans Considered to be Individually Significant | The following table outlines the Company's participation in multiemployer plans considered to be individually significant: Pension Fund EIN/Pension Plan Number Pension Protection Act Zone Status FIP/RP Status Pending/ Implemented (B) Contributions Expiration Date of Collective- Bargaining Agreement 2014 2013 2015 2014 2013 Suburban Teamsters of Northern IL Pension Fund 36-6155778-001 Critical as of Critical as of Implemented $ 0.6 $ 0.5 $ 0.4 1/31/2019 Pension Fund of Automobile Mechanics Local No. 701 36-6042061-001 Critical as of Critical as of Implemented $ 0.2 $ 0.2 $ 0.2 12/31/2018 Local 731 Private Scavengers and Garage Attendants Pension Fund(A) 36-6513567-001 Not Endangered as Endangered as Implemented $ 1.8 $ 1.7 $ 1.6 9/30/2018 Midwest Operating Engineers Pension Fund 36-6140097-001 Endangered as Endangered as Implemented $ 0.6 $ 0.6 $ 0.5 9/30/2016 Teamsters Local Union No. 301 Union Pension Fund(A) 36-6492992-001 Not endangered Not endangered No $ 0.9 $ 0.8 $ 0.6 9/30/2016 Central States Southeast and Southwest Areas Pension Fund 36-6064560-001 Critical as of Critical as of Implemented $ 0.2 $ 0.2 $ 0.2 1/31/2015 Local 705 Int’l Brotherhood of Teamsters Pension TR. FD. 36-6492502-001 Critical as of Critical as of Implemented $ 0.2 $ 0.2 $ 0.2 9/30/2018 (A) The employers' contributions to the plan represent greater than 5% of the total contributions to the plan for the most recent plan year available. (B) A multi-employer defined benefit pension plan that has been certified as endangered, seriously endangered, or critical may begin to levy a statutory surcharge on contribution rates. Once authorized, the surcharge is at the rate of 5% for the first 12 months and 10% for any periods thereafter. Contributing employers, however, may eliminate the surcharge by entering into a collective bargaining agreement that meets the requirements of the applicable funding improvement plan or rehabilitation plan. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Components of Provision for Income Taxes | The components of the benefit from income taxes from continuing operations are comprised of the following for the years ended December 31: 2015 2014 2013 Current Federal $ 0.4 $ 0.2 $ — State 1.8 2.7 2.4 2.2 2.9 2.4 Deferred Federal (17.4 ) (83.2 ) (39.4 ) State (4.2 ) (0.3 ) (8.4 ) (21.6 ) (83.5 ) (47.8 ) Benefit from income taxes $ (19.4 ) $ (80.6 ) $ (45.4 ) |
Reconciliation between Provision for Income Taxes and Expected Tax Provision | A reconciliation between the benefit from income taxes and the expected tax benefit for continuing operations using the federal statutory rate in effect for the years ended December 31 as follows: 2015 2014 2013 Amount computed using statutory rates $ (18.6 ) $ (34.3 ) $ (47.6 ) State income taxes, net of Federal benefit (5.1 ) (1.3 ) (2.4 ) State tax rate adjustment 1.7 6.6 0.1 Uncertain tax positions and interest 1.0 — — Nondeductible expenses 1.8 — — Other 0.7 (0.2 ) 1.1 Valuation allowance (0.9 ) (51.4 ) 3.4 Benefit from income taxes $ (19.4 ) $ (80.6 ) $ (45.4 ) |
Summary of Company's Deferred Tax Assets and Liabilities | The Company’s deferred tax assets and liabilities from continuing operations relate to the following sources and differences between financial accounting and the tax basis of the Company’s assets and liabilities at December 31: 2015 2014 Deferred tax assets Allowance for doubtful accounts $ 1.7 $ 2.0 Insurance reserve 16.8 17.5 Net operating loss 176.5 178.3 Capital loss carryforward 69.1 69.1 Accrued bonus and vacation 9.0 7.7 Stock compensation 1.9 1.8 Other comprehensive income — 0.6 Tax credits 7.2 6.9 Other 21.4 21.1 Total deferred tax assets 303.6 305.0 Valuation allowance (95.2 ) (96.1 ) Deferred tax assets less valuation allowance 208.4 208.9 Deferred tax liabilities Fixed asset basis (110.8 ) (117.8 ) Intangible basis (123.7 ) (127.2 ) Landfill and environmental remediation liabilities (109.8 ) (113.8 ) Other (3.1 ) (5.4 ) Deferred tax liabilities (347.4 ) (364.2 ) Net deferred tax liability $ (139.0 ) $ (155.3 ) |
Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2015, 2014 and 2013 is as follows: 2015 2014 2013 Balance at January 1, $ 6.2 $ 6.2 $ 6.2 Additions based on tax positions of prior years 0.5 — — Additions based on tax positions of current year 0.6 — — Balance at December 31, $ 7.3 $ 6.2 $ 6.2 |
Fair Value of Financial Instr51
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The Company’s assets and liabilities that are measured at fair value on a recurring basis approximate the following: Fair Value Measurement at December 31, 2015 Total Quoted Prices Significant Significant Total Carrying Recurring fair value measurements Cash and cash equivalents $ 0.6 $ 0.6 $ — $ — $ — $ 0.6 Derivative instruments - Asset position 0.2 — 0.2 — — 0.2 Derivative instruments - Liability position (16.2 ) $ — (16.2 ) — — (16.2 ) Total recurring fair value measurements $ (15.4 ) $ 0.6 $ (16.0 ) $ — $ — $ (15.4 ) Fair Value Measurement at December 31, 2014 Total Quoted Prices Significant Significant Total Carrying Recurring fair value measurements Cash and cash equivalents $ 1.0 $ 1.0 $ — $ — $ — $ 1.0 Restricted cash 0.2 0.2 — — — 0.2 Derivative instruments - Asset position 2.7 — 2.7 — — 2.7 Derivative instruments - Liability position (27.3 ) — (27.3 ) — — (27.3 ) Total recurring fair value measurements $ (23.4 ) $ 1.2 $ (24.6 ) $ — $ — $ (23.4 ) Refer to Note 13 for disclosures regarding long-term debt. |
Restructuring (Tables)
Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring Costs Included in Accompanying Consolidated Statements of Operations | 2015 2014 2013 Restructuring charges $ — $ 4.6 $ 10.0 Total pre-tax and restructuring charges $ — $ 4.6 $ 10.0 |
Schedule of Restructuring Costs Included in Accrued Expenses in Accompanying Consolidated Financial Statements | The costs associated with the actions above are included in accrued expenses in the accompanying consolidated financial statements and include the amounts as follows: 2015 2014 2013 Beginning balance $ 5.4 $ 6.4 $ 5.1 Expense — 4.6 10.0 Cash expenditures Severance and relocation (2.7 ) (5.1 ) (7.7 ) Other (0.5 ) (0.5 ) (1.0 ) Ending balance $ 2.2 $ 5.4 $ 6.4 |
Segment and Related Informati53
Segment and Related Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Summary of Financial Information Concerning Reportable Segments | Summarized financial information concerning our reportable segments for fiscal 2015 , 2014 and 2013 is shown in the following table: Services Revenue Operating Income (Loss) Depreciation and Amortization Capital Expenditures Total Assets 2015 South $ 488.7 $ 66.9 $ 73.2 $ 52.1 $ 1,152.4 East 366.3 25.0 74.0 46.4 791.0 Midwest 541.5 61.1 103.8 76.2 1,447.3 Corporate (0.1 ) (57.9 ) 8.1 5.0 31.6 $ 1,396.4 $ 95.1 $ 259.1 $ 179.7 $ 3,422.3 2014 South $ 493.7 $ 72.2 $ 70.3 $ 52.3 $ 1,188.9 East 364.3 8.7 85.1 63.7 810.7 Midwest 545.2 51.2 108.1 73.1 1,437.3 Corporate (0.2 ) (62.7 ) 7.9 7.3 52.6 $ 1,403.0 $ 69.4 $ 271.4 $ 196.4 $ 3,489.5 2013 South $ 475.4 $ 66.4 $ 79.0 $ 63.2 $ 1,216.0 East 331.1 7.7 78.7 29.2 802.8 Midwest 512.6 39.6 112.6 53.8 1,460.6 Corporate — (91.6 ) 8.6 11.9 74.8 $ 1,319.1 $ 22.1 $ 278.9 $ 158.1 $ 3,554.2 |
Supplemental Cash Flow Inform54
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Supplemental Cash Flow Information | Supplemental cash flow information for the years ended December 31 is as follows: 2015 2014 2013 Cash paid for interest $ 116.4 $ 119.7 $ 119.1 Cash paid for taxes $ 2.4 $ 3.2 $ 0.6 |
Accumulated Other Comprehensi55
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Summary of Changes in Balances of Each Component of Accumulated Other Comprehensive Income, Net of Tax | The changes in the balances of each component of accumulated other comprehensive income, net of tax, which is included as a component of stockholders’ equity, are as follows: Gains and Losses on Derivative Instruments Balance, December 31, 2012 (2.2 ) Other comprehensive loss before reclassifications, net of tax 2.3 Amounts reclassified from accumulated other comprehensive income 2.4 Net current period other comprehensive loss 4.7 Balance, December 31, 2013 2.5 Other comprehensive income before reclassifications, net of tax (1.0 ) Net current period other comprehensive income (1.0 ) Balance, December 31, 2014 1.5 Other comprehensive income before reclassifications, net of tax (1.5 ) Net current period other comprehensive income (1.5 ) Balance, December 31, 2015 — |
Schedule of Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income | The significant amounts either added to or reclassified out of each component of accumulated other comprehensive income are included in the tables below: Amount of Derivative Gain (Loss) Derivatives Designated as Cash Flow Hedges 2015 2014 2013 Interest rate caps (2.0 ) (1.4 ) 2.6 Other $ — $ — $ 0.5 Total before tax (2.0 ) (1.4 ) 3.1 Tax benefit (expense) 0.5 0.4 (0.8 ) Net of tax $ (1.5 ) $ (1.0 ) $ 2.3 |
Quarterly Financial Data (Una56
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Quarterly Results of Operations | The following table summarizes the unaudited quarterly results of operations for the respective quarters: First Quarter Second Quarter Third Quarter Fourth Quarter 2015 Operating revenues $ 330.4 $ 355.2 $ 361.3 $ 349.5 Income from operations $ 24.0 $ 13.7 $ 32.5 $ 24.9 Consolidated net loss $ (10.8 ) $ (8.5 ) $ (5.5 ) $ (8.8 ) 2014 Operating revenues $ 321.3 $ 359.9 $ 368.1 $ 353.7 Income from operations $ 8.3 $ 16.0 $ 25.8 $ 19.3 Consolidated net (loss) income (a) $ (19.3 ) $ (15.4 ) $ (6.5 ) $ 24.1 (a) In the fourth quarter of 2014, the Company recorded a loss on commodity futures contracts related to fuel of $27.3 in other income/(expense), net due to a decline in fuel prices in the fourth quarter of 2014 and recorded a valuation allowance release of $51.4 related to a legal entity restructuring project. Refer to Note 18 "Income Taxes" for further information. |
Business Operations - Additiona
Business Operations - Additional Information (Details) $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2015Segment | Dec. 31, 2015acquisition | Dec. 31, 2015USD ($) | Dec. 31, 2015company | Dec. 31, 2014acquisition | Dec. 31, 2014USD ($) | Dec. 31, 2014company | Dec. 31, 2013USD ($)company | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Number of reportable operating segments | Segment | 3 | |||||||
Number of companies acquired | 12 | 12 | 8 | 8 | 17 | |||
Consideration transferred, cash | $ 49.7 | |||||||
Consideration transferred, liabilities assumed | 6.6 | |||||||
Consideration transferred | 56.3 | $ 8.6 | $ 31.3 | |||||
Loss on disposition of business | 10.9 | |||||||
Disposal group, impairment assets | 4.3 | |||||||
Disposal group, non-cash impairment in connection with the permit lapse | $ 2.1 |
Summary of Significant Accoun58
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Landfillcustomer | Dec. 31, 2014USD ($)customer | Dec. 31, 2013USD ($)Landfill | |
Variable Interest Entity [Line Items] | |||
Number of customers representing 5% of more of total accounts receivable | customer | 0 | 0 | |
Percentage of accounts receivable, more than 5% | 5.00% | 5.00% | |
Leased landfill sold | Landfill | 1 | ||
Post-closure period | 30 years | ||
Average period changes in historical consumer price index | 25 years | ||
Historical rate of consumer price index | 2.50% | ||
Weighted-average rate applicable to asset retirement obligations, minimum | 6.40% | ||
Weighted-average rate applicable to asset retirement obligations, maximum | 10.50% | ||
Active landfills | Landfill | 39 | ||
Landfill impairments | $ 6,400,000 | $ 5,300,000 | $ 25,500,000 |
Total interest cost | 138,000,000 | 141,500,000 | 163,100,000 |
Interest capitalized | 900,000 | 1,600,000 | 600,000 |
Debt costs capitalized | 1,300,000 | 22,900,000 | |
Goodwill impairment charges | 0 | 0 | 0 |
Impairments of intangible assets | $ 0 | 2,700,000 | 600,000 |
Deemed Permitted Airspace | |||
Variable Interest Entity [Line Items] | |||
Active landfills | Landfill | 15 | ||
Landfill Site Costs | |||
Variable Interest Entity [Line Items] | |||
Landfill site costs | $ 0 | ||
Landfill impairments | 0 | 0 | $ 0 |
Adjustments for New Accounting Principle, Early Adoption | Other assets, net | |||
Variable Interest Entity [Line Items] | |||
Deferred finance costs | (48,400,000) | (60,600,000) | |
Adjustments for New Accounting Principle, Early Adoption | Long-term debt | |||
Variable Interest Entity [Line Items] | |||
Deferred finance costs | $ (48,400,000) | $ (60,600,000) |
Summary of Significant Accoun59
Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment, Net (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
Minimum | Vehicles | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 5 years |
Minimum | Machinery and Equipment | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 3 years |
Minimum | Containers | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 5 years |
Minimum | Furniture and Fixtures | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 5 years |
Minimum | Building and Improvements | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 5 years |
Maximum | Vehicles | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 10 years |
Maximum | Machinery and Equipment | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 10 years |
Maximum | Containers | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 15 years |
Maximum | Furniture and Fixtures | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 7 years |
Maximum | Building and Improvements | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 39 years |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2015USD ($)acquisition | Dec. 31, 2015USD ($) | Dec. 31, 2015USD ($)company | Dec. 31, 2014USD ($)acquisition | Dec. 31, 2014USD ($) | Dec. 31, 2014USD ($)company | Dec. 31, 2013USD ($)company | |
Business Combinations [Abstract] | |||||||
Number of companies acquired | 12 | 12 | 8 | 8 | 17 | ||
Consideration transferred | $ 56.3 | $ 8.6 | $ 31.3 | ||||
Amount of notes payable incurred as part of consideration transferred | 6.6 | ||||||
Amount of notes payable paid as part of consideration transferred | 0.8 | 1.5 | |||||
Reduction to purchase price, prior years acquisitions | 0.3 | ||||||
Goodwill, acquisition | 12 | 1.3 | |||||
Goodwill | $ 1,173.5 | $ 1,173.5 | $ 1,173.5 | $ 1,166.9 | $ 1,166.9 | $ 1,166.9 | $ 1,166.4 |
Acquisitions - Summary of Estim
Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | |||
Goodwill | $ 1,173.5 | $ 1,166.9 | $ 1,166.4 |
Business Acquisition | |||
Business Acquisition [Line Items] | |||
Current assets | 2.8 | 0.5 | |
Property and equipment | 20.4 | 2.6 | |
Goodwill | 12 | 1.3 | |
Other intangible assets | 31.2 | 5.5 | |
Total assets acquired | 66.4 | 9.9 | |
Current liabilities | 4.3 | 1.3 | |
Total liabilities assumed | 10.1 | 1.3 | |
Net assets acquired | $ 56.3 | $ 8.6 |
Acquisitions - Schedule of Purc
Acquisitions - Schedule of Purchase Price Allocation to Other Intangible Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | |||
Goodwill | $ 1,173.5 | $ 1,166.9 | $ 1,166.4 |
Amount of goodwill deductible for tax purposes | 100.8 | 113.7 | |
South Segment | |||
Business Acquisition [Line Items] | |||
Goodwill | 1.6 | ||
East Segment | |||
Business Acquisition [Line Items] | |||
Goodwill | 1.4 | ||
Midwest Segment | |||
Business Acquisition [Line Items] | |||
Goodwill | 9 | ||
Business Acquisition | |||
Business Acquisition [Line Items] | |||
Other intangible assets | 31.2 | 5.5 | |
Goodwill | 12 | 1.3 | |
Amount of goodwill deductible for tax purposes | 4.1 | 1.3 | |
Business Acquisition | Customer lists and contracts | |||
Business Acquisition [Line Items] | |||
Other intangible assets | 27.8 | 4.3 | |
Business Acquisition | Noncompete | |||
Business Acquisition [Line Items] | |||
Other intangible assets | 2.6 | 1.2 | |
Business Acquisition | Other Intangible Assets | |||
Business Acquisition [Line Items] | |||
Other intangible assets | $ 0.8 | $ 0 |
Acquisitions - Schedule of Weig
Acquisitions - Schedule of Weighted Average Remaining Life of Other Intangible Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Increase in goodwill and intangible assets | $ 0.1 | $ 0.1 | $ 26.6 |
Business Acquisition | Customer lists and contracts | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted average remaining life of other intangible assets | 15 years | ||
Business Acquisition | Noncompete | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted average remaining life of other intangible assets | 5 years |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Aug. 31, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Impairment charge | $ 0 | $ 0 | $ 22,400,000 | ||
Massachusetts | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal of group of assets | $ 3,700,000 | 3,700,000 | |||
Loss on sale of discontinued operation | 11,100,000 | ||||
Florida | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal of group of assets | 2,000,000 | 2,000,000 | |||
Impairment charge | 3,600,000 | ||||
Georgia and New Jersey | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Impairment charge | 0 | ||||
New York and New Jersey | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal of group of assets | 45,000,000 | 45,000,000 | |||
Impairment charge | 7,600,000 | ||||
Cash received on sale of discontinued operations on date of closing | $ 25,000,000 | ||||
Cash received on sale of discontinued operations | $ 5,000,000 | ||||
Reacquired minority interest | $ 2,500,000 |
Discontinued Operations - Summa
Discontinued Operations - Summary of Revenues and Expenses from Discontinued Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Discontinued Operations and Disposal Groups [Abstract] | |||
Service revenues | $ 0 | $ 0.4 | $ 104.3 |
Operating costs and expenses | |||
Operating expenses | 0 | 0.9 | 98.7 |
Selling, general and administrative | 0 | 0.3 | 6.9 |
Depreciation and amortization | 0 | 0.3 | 5.9 |
Gain on disposal of assets | 0 | (0.4) | 0 |
Asset impairment | 0 | 0 | 22.4 |
Total expenses | 0 | 1.1 | 133.9 |
Other (expense) income | |||
Interest expense | 0 | 0 | 0 |
Total other (expense) income | 0 | 0 | 0 |
Loss from discontinued operations before income tax | 0 | (0.7) | (29.6) |
Tax benefit | 0 | (1) | (7.1) |
Discontinued operations, net | $ 0 | $ 0.3 | $ (22.5) |
Restricted Cash - Schedule of R
Restricted Cash - Schedule of Restricted cash (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Cash and Cash Equivalents [Abstract] | ||
Funds held for landfill closure and post-closure financial assurance | $ 0 | $ 0.2 |
Valuation Allowances - Summary
Valuation Allowances - Summary of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Beginning balance | $ 5 | $ 8.4 | $ 4 |
Provision for doubtful accounts | 4 | 4.2 | 7.7 |
Recovery of bad debts | 2.2 | 0.6 | 1.7 |
Write-offs of bad debt | (7) | (8.2) | (5.4) |
Other | 0.2 | 0 | 0.4 |
Ending balance | $ 4.4 | $ 5 | $ 8.4 |
Valuation Allowances - Deferred
Valuation Allowances - Deferred Tax Asset Valuation Allowances (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Deferred Tax Assets, Valuation Allowance [Roll Forward] | ||||
Beginning Balance | $ 96.1 | $ 141.6 | $ 128.1 | |
Decrease in valuation allowance for tax provision for continuing operations | $ (51.4) | (0.9) | (51.4) | 0 |
Increase in valuation allowance for tax provision for continuing operations | 0 | 5.9 | 7.6 | |
Additions from purchase accounting | 0 | 0 | 5.9 | |
Ending Balance | $ 96.1 | $ 95.2 | $ 96.1 | $ 141.6 |
Prepaid Expenses and Other Cu69
Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepaid insurance | $ 5.6 | $ 6.3 |
Prepaid expenses | 15.4 | 15.8 |
Other receivables and current assets | 4.2 | 3 |
Parts and supplies inventory | 8.2 | 9.1 |
Prepaid expenses and other current assets | $ 33.4 | $ 34.2 |
Derivative Instruments and He70
Derivative Instruments and Hedging Activities - Summary of Fair Value of Derivative Instruments Recorded in Combined Consolidated Balance Sheets (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Total derivatives | $ 16 | $ 24.6 |
Derivatives Designated as Hedging Instruments | Interest Rate Caps | Other Current Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative assets | 0.2 | 2.7 |
Not Designated as Hedging Instruments | Fuel Commodity Derivatives | Other Current Liabilities | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative liabilities | 16.2 | 20.6 |
Not Designated as Hedging Instruments | Fuel Commodity Derivatives | Other Long-Term Liabilities | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative liabilities | $ 0 | $ 6.7 |
Derivative Instruments and He71
Derivative Instruments and Hedging Activities - Additional Information (Detail) gal in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2012derivative | Dec. 31, 2015USD ($)$ / galgal | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Number of interest rate cap agreements | derivative | 4 | |||
Premium recorded in other assets | $ 5 | |||
Amortization of interest rate cap premium | $ 1.5 | $ 2.1 | $ 1.3 | |
Expiration year of contract | 2,016 | |||
Interest Rate Caps | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Notional amounts of the contracts | $ 695.2 | |||
Fuel Commodity Derivatives | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Loss recognized on fuel derivative contracts | $ 15.4 | $ 29 | ||
Fuel Commodity Derivatives | Minimum | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Hedged strike prices range | $ / gal | 2.20 | |||
Fuel Commodity Derivatives | Maximum | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Hedged strike prices range | $ / gal | 2.84 | |||
Fuel Commodity Derivative Maturing in 2015 | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Commodity volume hedged | gal | 23.8 | |||
Fuel Commodity Derivative Maturing in 2016 | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Commodity volume hedged | gal | 13.4 |
Property and Equipment, Net - S
Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 2,657.4 | $ 2,578.4 |
Less: Accumulated depreciation and amortization on property and equipment and accumulated landfill airspace amortization | (500.4) | (411.8) |
Property and equipment, net | 1,649.9 | 1,663.9 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 193.8 | 186 |
Landfill Site Costs | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 1,277.3 | 1,281.6 |
Vehicles | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 539.4 | 490.8 |
Containers | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 271.4 | 261.8 |
Machinery and Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 141.2 | 134.4 |
Furniture and Fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 21 | 24.1 |
Building and Improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 159.1 | 155.3 |
Construction in Process | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 54.2 | 44.4 |
Landfill Airspace | ||
Property, Plant and Equipment [Line Items] | ||
Less: Accumulated depreciation and amortization on property and equipment and accumulated landfill airspace amortization | $ (507.1) | $ (502.7) |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Gross assets under capital lease | $ 38 | $ 27.9 | |
Amortization expense of assets under capital leases | 4.1 | 2 | |
Depreciation, amortization and depletion expense | $ 216.3 | $ 229.1 | $ 236.7 |
Landfill Accounting - Summary o
Landfill Accounting - Summary of Liabilities for Final Closure and Post-Closure Costs (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Balance at January 1 | $ 201.1 | $ 184.3 | |
Increase in retirement obligation | 9.8 | 11.5 | |
Accretion of closure and post-closure costs | 13.1 | 13.5 | $ 15 |
Disposition | (3.2) | 0 | |
Change in estimate | (2.9) | 5.6 | |
Costs incurred | (24.2) | (13.8) | |
Asset retirement obligation, total | 193.7 | 201.1 | $ 184.3 |
Less: Current portion | (30.2) | (29.2) | |
Noncurrent portion of retirement obligation | $ 163.5 | $ 171.9 |
Other Intangible Assets, Net 75
Other Intangible Assets, Net and Goodwill - Schedule of Intangible Assets, Net (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 550.1 | $ 527.8 |
Accumulated Amortization | (185.6) | (145.3) |
Impairment | 0 | (2.6) |
Net Carrying Value | 364.5 | 379.9 |
Noncompete agreements | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 19 | 16.9 |
Accumulated Amortization | (14.6) | (12.5) |
Impairment | 0 | (0.1) |
Net Carrying Value | $ 4.4 | $ 4.3 |
Weighted Average Remaining Life (Years) | 2 years 10 months 24 days | 2 years 3 months 12 days |
Tradenames | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 17.2 | $ 17 |
Accumulated Amortization | (7.8) | (7.1) |
Impairment | 0 | 0 |
Net Carrying Value | $ 9.4 | $ 9.9 |
Weighted Average Remaining Life (Years) | 15 years 6 months | 16 years 7 months |
Customer lists and contracts | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 510.6 | $ 491.3 |
Accumulated Amortization | (163.1) | (125.6) |
Impairment | 0 | (2.5) |
Net Carrying Value | $ 347.5 | $ 363.2 |
Weighted Average Remaining Life (Years) | 13 years 7 months 6 days | 14 years 7 months 18 days |
Operating permits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 2.9 | $ 2.2 |
Accumulated Amortization | 0 | 0 |
Impairment | 0 | 0 |
Net Carrying Value | 2.9 | 2.2 |
Above/below market leases | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 0.4 | 0.4 |
Accumulated Amortization | (0.1) | (0.1) |
Impairment | 0 | 0 |
Net Carrying Value | $ 0.3 | $ 0.3 |
Weighted Average Remaining Life (Years) | 10 years 7 months 6 days | 11 years 7 months 6 days |
Other Intangible Assets, Net 76
Other Intangible Assets, Net and Goodwill - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense on intangible assets | $ 42.8 | $ 42.3 | $ 42.2 |
Other Intangible Assets, Net 77
Other Intangible Assets, Net and Goodwill - Schedule of Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2,016 | $ 44.4 | |
2,017 | 40.9 | |
2,018 | 38.1 | |
2,019 | 29.4 | |
2,020 | 29 | |
Thereafter | 182.7 | |
Total amortization | $ 364.5 | $ 379.9 |
Other Intangible Assets, Net 78
Other Intangible Assets, Net and Goodwill - Schedule of Changes in the Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill, Gross [Roll Forward] | |||||
Beginning balance | $ 1,255.2 | $ 1,253.9 | |||
Acquisition | 12 | 1.3 | |||
Ending balance | 1,267.2 | 1,255.2 | |||
Accumulated Impairment | $ (93.7) | $ (88.3) | $ (87.5) | ||
Goodwill, Net [Roll Forward] | |||||
Beginning balance | 1,166.9 | 1,166.4 | |||
Acquisition | 12 | 1.3 | |||
Disposition of business | (5.4) | (0.8) | |||
Ending balance | $ 1,166.9 | $ 1,166.4 | $ 1,173.5 | $ 1,166.9 | $ 1,166.4 |
Accrued Expenses - Summary of A
Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Payables and Accruals [Abstract] | ||
Accrued compensation and benefits | $ 32.4 | $ 28.3 |
Accrued waste disposal costs | 39.8 | 37.2 |
Accrued insurance and self-insurance reserves | 15.1 | 14.9 |
Accrued severance | 2.2 | 3.6 |
Derivative valuation | 16.2 | 20.6 |
Other accrued expenses | 30 | 26.1 |
Accrued expenses net | $ 135.7 | $ 130.7 |
Long-Term Debt - Summary of Lon
Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Capital lease obligations, maturing through 2024 | $ 28.2 | $ 23.3 |
Other debt | 20 | 4.9 |
Long-term debt, gross | 2,315.7 | 2,327.2 |
Less: Original issue discount | (68.6) | (84.2) |
Less: Current portion | (49.1) | (25.3) |
Long-term debt, less original issue discount and current maturities | 2,198 | 2,217.7 |
Revolving line of credit with lenders, interest at base rate plus margin, as defined (4.42% and 4.16% at December 31, 2015 and 2014, respectively) due quarterly; balance due at maturity on October 2017 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 32 | 0 |
Term loans; quarterly payments commencing March 31, 2013 through June 30, 2019 with final payment due October 9, 2019; interest at LIBOR floor of 0.75% plus an applicable margin | ||
Debt Instrument [Line Items] | ||
Long-term debt | 1,685.5 | 1,749 |
Senior notes payable; interest at 8.25% payable in arrears semi-annually commencing April 1, 2013; maturing on October 1, 2020 | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 550 | $ 550 |
Long-Term Debt - Summary of L81
Long-Term Debt - Summary of Long-Term Debt (Details 2) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revolving Credit Facility | ||
Debt Instrument [Line Items] | ||
Revolving line of credit interest rate | 4.42% | 4.16% |
Senior notes payable; interest at 8.25% payable in arrears semi-annually commencing April 1, 2013; maturing on October 1, 2020 | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 8.25% | 8.25% |
LIBOR | Term loans; quarterly payments commencing March 31, 2013 through June 30, 2019 with final payment due October 9, 2019; interest at LIBOR floor of 0.75% plus an applicable margin | ||
Debt Instrument [Line Items] | ||
LIBOR floor | 0.75% | 0.75% |
Long-Term Debt - Schedule of An
Long-Term Debt - Schedule of Annual Aggregate Principal Maturities (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Disclosure [Abstract] | ||
2,016 | $ 49.1 | |
2,017 | 29.6 | |
2,018 | 24.8 | |
2,019 | 1,649.3 | |
2,020 | 552.4 | |
Thereafter | 10.5 | |
Total debt | $ 2,315.7 | $ 2,327.2 |
Long-Term Debt - Additional Inf
Long-Term Debt - Additional Information (Details) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Subsidiary | Dec. 31, 2014USD ($) | Oct. 31, 2012USD ($) | |
Debt Instrument [Line Items] | |||
Number of non-guarantor foreign subsidiary | Subsidiary | 1 | ||
Percentage of income and cash flows from operating activities (less than 3%) | 3.00% | ||
Percentage of parent company in subsidiary guarantor | 100.00% | ||
Carrying value of debt | $ 2,267,500,000 | $ 2,299,000,000 | |
October 1, 2016 | |||
Debt Instrument [Line Items] | |||
Debt instrument call premium percentage | 104.125% | ||
October 1, 2017 | |||
Debt Instrument [Line Items] | |||
Debt instrument call premium percentage | 102.063% | ||
Term B Loan | |||
Debt Instrument [Line Items] | |||
Principal amount of debt | $ 1,800,000,000 | ||
Quarterly payments of debt | $ 4,500,000 | ||
Net cash proceeds from the sale of assets | $ 25,000,000 | ||
Cash proceeds from sale of assets, reinvestment period | 365 days | ||
Term B Loan | Prime Rate or Federal Funds Rate | |||
Debt Instrument [Line Items] | |||
Basis spread on rate | 0.50% | ||
Term B Loan | LIBOR | |||
Debt Instrument [Line Items] | |||
LIBOR floor | 0.75% | ||
Bonds | |||
Debt Instrument [Line Items] | |||
Principal amount of debt | 550,000,000 | ||
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Revolving credit facility maximum borrowing capacity | $ 300,000,000 | ||
Letters of credit outstanding | $ 45,900,000 | $ 58,100,000 | |
Annual Commitment fee percentage | 0.50% | ||
Revolving Credit Facility | Prime Rate or Federal Funds Rate | |||
Debt Instrument [Line Items] | |||
Basis spread on rate | 0.50% | ||
Revolving Credit Facility | LIBOR | |||
Debt Instrument [Line Items] | |||
LIBOR floor | 1.25% | ||
Senior notes payable | |||
Debt Instrument [Line Items] | |||
Debt interest rate | 8.25% | 8.25% | |
Long-term debt | $ 550,000,000 | $ 550,000,000 | |
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Long-term debt | $ 32,000,000 | $ 0 |
Long-Term Debt - Schedule of To
Long-Term Debt - Schedule of Total Leverage Ratio (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Term B Loan | Less Than 4.75 | |
Debt Instrument [Line Items] | |
Total Leverage Ratio | 4.75 |
LIBOR Base Rate | 2.50% |
Alternate Base Rate | 2.50% |
Term B Loan | More Than Or Equal to 4.75 | |
Debt Instrument [Line Items] | |
Total Leverage Ratio | 4.75 |
LIBOR Base Rate | 3.00% |
Alternate Base Rate | 3.00% |
Revolving Credit Facility | Less Than 4.75 | |
Debt Instrument [Line Items] | |
Total Leverage Ratio | 4.75 |
LIBOR Base Rate | 3.50% |
Alternate Base Rate | 2.50% |
Revolving Credit Facility | More Than Or Equal to 4.75 | |
Debt Instrument [Line Items] | |
Total Leverage Ratio | 4.75 |
LIBOR Base Rate | 4.00% |
Alternate Base Rate | 3.00% |
Long-Term Debt - Schedule of Es
Long-Term Debt - Schedule of Estimated Fair Value of Debt (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument, Redemption [Line Items] | ||
Estimated fair value debt | $ 2,226.7 | $ 2,242.2 |
Revolving Credit Facility | ||
Debt Instrument, Redemption [Line Items] | ||
Estimated fair value debt | 32 | 0 |
Senior Notes | ||
Debt Instrument, Redemption [Line Items] | ||
Estimated fair value debt | 555.5 | 550 |
Term B Loan | ||
Debt Instrument, Redemption [Line Items] | ||
Estimated fair value debt | $ 1,639.2 | $ 1,692.2 |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments (Detail) $ in Millions | Dec. 31, 2015USD ($) |
Leases [Abstract] | |
2,016 | $ 5.8 |
2,017 | 4.6 |
2,018 | 4.2 |
2,019 | 3.6 |
2,020 | 3 |
Thereafter | 18.7 |
Total | $ 39.9 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Leases [Abstract] | |||
Rental expense for operating leases | $ 9.3 | $ 10.2 | $ 12.4 |
Stockholders' Equity and Stoc88
Stockholders' Equity and Stock Options - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Oct. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock, shares authorized (in shares) | 1,000 | 1,000 | ||
Common stock, shares issued (in shares) | 1,000 | 1,000 | ||
Common stock, shares outstanding (in shares) | 1,000 | 1,000 | ||
Unrecognized compensation expense will be recognized | $ 3.2 | |||
Unrecognized compensation expense expected to recognized over a weighted average period | 3 years | |||
Selling, General and Administrative Expenses | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 3.1 | $ 4.5 | $ 4.6 | |
Annual Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of stock options, exercised | 117 | |||
Weighted-average grant-date fair value of options granted (in dollars per share) | $ 291 | $ 268 | $ 268 | |
Total fair value of shares vested | $ 1 | $ 1.6 | $ 1.8 | |
Intrinsic value of the options outstanding | 8.8 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.1 | |||
Strategic Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of stock options, exercised | 715 | |||
Weighted-average grant-date fair value of options granted (in dollars per share) | $ 331 | $ 306 | $ 272 | |
Intrinsic value of the options outstanding | $ 12.1 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.3 | |||
Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Estimated forfeiture rate | 5.70% | 5.70% | ||
Discount applied on shares issued to the option value | 9.00% | 9.00% | 9.00% | |
Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Estimated forfeiture rate | 14.80% | 14.80% | ||
Discount applied on shares issued to the option value | 10.00% | 10.00% | 10.00% | |
Vesting from Issuance to Change of Control | Awards Issued Prior to 2010 | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options vesting, percentage | 20.00% | |||
Stock Incentive Plan 2012 | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock, shares capital reserve for future issuance (in shares) | 150,000 | |||
Award expiration period | 10 years | |||
Stock Incentive Plan 2012 | Annual Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 4 years | |||
Stock Incentive Plan 2012 | Annual Vesting Rate | Annual Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options vesting, percentage | 20.00% | |||
Stock Incentive Plan 2012 | Vesting at Issuance | Annual Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options vesting, percentage | 20.00% | |||
Stock Incentive Plan 2012 | Vesting After Five Years | Strategic Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 5 years | |||
Stock options vesting, percentage | 100.00% |
Stockholders' Equity and Stoc89
Stockholders' Equity and Stock Options - Summary of Fair Value of Option Granted Using Following Assumptions (Details) - Stock Options | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Average expected term (years) | 6 years 10 months 24 days | 6 years | 6 years |
Expected volatility | 30.00% | 30.00% | 20.00% |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.76% | 1.83% | 0.93% |
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.93% | 2.10% | 0.93% |
Stockholders' Equity and Stoc90
Stockholders' Equity and Stock Options - Summary of Stock Option Outstanding (Details) | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Annual Stock Options | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Number of Shares Outstanding, Beginning Balance | shares | 38,928 |
Number of Shares, Granted | shares | 4,750 |
Number of Shares, Exercised | shares | (117) |
Number of Shares, Expired or forfeited | shares | (1,925) |
Number of Shares Outstanding, Ending Balance | shares | 41,636 |
Number of Shares Exercisable, Ending balance | shares | 30,667 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ / shares | $ 659 |
Weighted Average Exercise Price, Granted | $ / shares | 896 |
Weighted Average Exercise Price, Exercised | $ / shares | 409 |
Weighted Average Exercise Price, Expired or Forfeited | $ / shares | 676 |
Weighted Average Exercise Price, Outstanding, Ending Balance | $ / shares | 686 |
Weighted Average Exercise Price, Exercisable Outstanding, Ending Balance | $ / shares | $ 628 |
Weighted - Average Remaining Contractual Term Outstanding, Ending Balance | 6 years 29 days |
Weighted - Average Remaining Contractual Term Exercisable, Ending Balance | 5 years 5 months 12 days |
Strategic Stock Options | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Number of Shares Outstanding, Beginning Balance | shares | 39,728 |
Number of Shares, Granted | shares | 6,410 |
Number of Shares, Exercised | shares | (715) |
Number of Shares, Expired or forfeited | shares | (4,085) |
Number of Shares Outstanding, Ending Balance | shares | 41,338 |
Number of Shares Exercisable, Ending balance | shares | 21,608 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ / shares | $ 572 |
Weighted Average Exercise Price, Granted | $ / shares | 896 |
Weighted Average Exercise Price, Exercised | $ / shares | 409 |
Weighted Average Exercise Price, Expired or Forfeited | $ / shares | 767 |
Weighted Average Exercise Price, Outstanding, Ending Balance | $ / shares | 606 |
Weighted Average Exercise Price, Exercisable Outstanding, Ending Balance | $ / shares | $ 412 |
Weighted - Average Remaining Contractual Term Outstanding, Ending Balance | 4 years 9 months 14 days |
Weighted - Average Remaining Contractual Term Exercisable, Ending Balance | 2 years 1 month 24 days |
Insurance - Additional Informat
Insurance - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Concentration Risk [Line Items] | ||
Discount rate for self-insurance claims reserves | 1.31% | 1.10% |
Health insurance liability | $ 4.1 | $ 4.7 |
Workers' compensation liability | 24.9 | 25.1 |
General and automobile liability | 17.5 | 18 |
Accrued Expense | ||
Concentration Risk [Line Items] | ||
General and automobile liability | 19.2 | $ 19.6 |
General Liability | Maximum | ||
Concentration Risk [Line Items] | ||
Self insurance exposures | 0.5 | |
Automobile | Maximum | ||
Concentration Risk [Line Items] | ||
Self insurance exposures | 1 | |
Workers' Compensation | Maximum | ||
Concentration Risk [Line Items] | ||
Self insurance exposures | $ 0.8 |
Benefit Plans - Additional Info
Benefit Plans - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Agreementage | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Multiemployer Plans [Line Items] | |||
401(k) Plan service requirement, more than one year | 90 days | ||
401(k) Plan minimum age requirement | age | 21 | ||
Matching contributions to 401(k) Plan | $ 3,200,000 | $ 2,800,000 | $ 2,800,000 |
Percent of workforce subject to a collective bargaining agreement | 13.00% | ||
Number of collective bargaining agreements expiring within one year | Agreement | 2 | ||
Total annual contributions made | $ 4.7 | ||
Multiemployer Plan, Individually Insignificant Multiemployer Plans | |||
Multiemployer Plans [Line Items] | |||
Total annual contributions made | $ 0.2 |
Benefit Plans - Participation i
Benefit Plans - Participation in Multiemployer Plans Considered to be Individually Significant (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Multiemployer Plans [Line Items] | |||
Contributions | $ 4.7 | ||
Suburban Teamsters of Northern IL Pension Fund | |||
Multiemployer Plans [Line Items] | |||
Contributions | 600,000 | $ 500,000 | $ 400,000 |
Pension Fund of Automobile Mechanics Local No. 701 | |||
Multiemployer Plans [Line Items] | |||
Contributions | 200,000 | 200,000 | 200,000 |
Local 731 Private Scavengers and Garage Attendants Pension Fund | |||
Multiemployer Plans [Line Items] | |||
Contributions | 1,800,000 | 1,700,000 | 1,600,000 |
Midwest Operating Engineers Pension Fund | |||
Multiemployer Plans [Line Items] | |||
Contributions | 600,000 | 600,000 | 500,000 |
Teamsters Local Union No. 301 Union Pension Fund | |||
Multiemployer Plans [Line Items] | |||
Contributions | 900,000 | 800,000 | 600,000 |
Central States Southeast and Southwest Areas Pension Fund | |||
Multiemployer Plans [Line Items] | |||
Contributions | 200,000 | 200,000 | 200,000 |
Local 705 Int'l Brotherhood of Teamsters Pension TR. FD. | |||
Multiemployer Plans [Line Items] | |||
Contributions | $ 200,000 | $ 200,000 | $ 200,000 |
Benefit Plans - Participation94
Benefit Plans - Participation in Multiemployer Plans Considered to be Individually Significant (Details 2) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Employer contribution percentage, greater than 5% | 5.00% |
Surcharge percentage during first twelve months | 5.00% |
Surcharge percentage after 12 months | 10.00% |
Income Taxes - Components of Pr
Income Taxes - Components of Provision for Income Taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current | |||
Federal | $ 0.4 | $ 0.2 | $ 0 |
State | 1.8 | 2.7 | 2.4 |
Current income tax expense | 2.2 | 2.9 | 2.4 |
Deferred | |||
Federal | (17.4) | (83.2) | (39.4) |
State | (4.2) | (0.3) | (8.4) |
Deferred income tax expense (benefit) | (21.6) | (83.5) | (47.8) |
Benefit for income taxes | $ (19.4) | $ (80.6) | $ (45.4) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 01, 2005 | Jun. 28, 2002 | |
Investments, Owned, Federal Income Tax Note [Line Items] | |||||||
Federal statutory rate | 35.00% | 35.00% | 34.00% | ||||
Valuation allowance | $ 96,100,000 | $ 95,200,000 | $ 96,100,000 | $ 141,600,000 | $ 128,100,000 | ||
Valuation allowance release related to a legal entity restructuring project | 51,400,000 | 900,000 | 51,400,000 | 0 | |||
Net unrecognized tax benefits that would impact the effective tax rate | 700,000 | ||||||
Interest expense related to unrecognized tax benefits in tax expense | 200,000 | 200,000 | 200,000 | ||||
Accrued interest | 2,000,000 | 2,200,000 | 2,000,000 | ||||
Accrued penalties | 300,000 | 300,000 | 300,000 | ||||
Tax expense | (19,400,000) | (80,600,000) | $ (45,400,000) | ||||
Tax Period Prior to June 28, 2002 | |||||||
Investments, Owned, Federal Income Tax Note [Line Items] | |||||||
Operating loss carryforwards | $ 78,200,000 | ||||||
Estimated annual limitation of NOLs | 3,500,000 | ||||||
Tax Period June 28, 2002 - November 1, 2005 | |||||||
Investments, Owned, Federal Income Tax Note [Line Items] | |||||||
Operating loss carryforwards | $ 4,800,000 | ||||||
Annual limitation of originated NOLs | 4,200,000 | ||||||
HWStar Waste Holdings, Corp. and subsidiaries | |||||||
Investments, Owned, Federal Income Tax Note [Line Items] | |||||||
Operating loss carryforwards | 169,800,000 | ||||||
Capital Loss Carryforward | |||||||
Investments, Owned, Federal Income Tax Note [Line Items] | |||||||
Capital loss carryforward | 182,900,000 | ||||||
Federal | |||||||
Investments, Owned, Federal Income Tax Note [Line Items] | |||||||
Operating loss carryforwards | $ 432,500,000 | $ 417.4 | $ 432,500,000 |
Income Taxes - Reconciliation b
Income Taxes - Reconciliation between Provision for Income Taxes and Expected Tax Provision (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Amount computed using statutory rates | $ (18.6) | $ (34.3) | $ (47.6) |
State income taxes, net of Federal benefit | (5.1) | (1.3) | (2.4) |
Tax rate adjustment | 1.7 | 6.6 | 0.1 |
Uncertain tax positions and interest | 1 | 0 | 0 |
Nondeductible expenses | 1.8 | 0 | 0 |
Other | 0.7 | (0.2) | 1.1 |
Valuation allowance | (0.9) | (51.4) | 3.4 |
Benefit for income taxes | $ (19.4) | $ (80.6) | $ (45.4) |
Income Taxes - Summary of Compa
Income Taxes - Summary of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred tax assets | ||||
Allowance for doubtful accounts | $ 1.7 | $ 2 | ||
Insurance reserve | 16.8 | 17.5 | ||
Net operating loss | 176.5 | 178.3 | ||
Capital loss carryforward | 69.1 | 69.1 | ||
Accrued bonus and vacation | 9 | 7.7 | ||
Stock compensation | 1.9 | 1.8 | ||
Other comprehensive income | 0 | 0.6 | ||
Tax credits | 7.2 | 6.9 | ||
Other | 21.4 | 21.1 | ||
Total deferred tax assets | 303.6 | 305 | ||
Valuation allowance | (95.2) | (96.1) | $ (141.6) | $ (128.1) |
Deferred tax assets less valuation allowance | 208.4 | 208.9 | ||
Deferred tax liabilities | ||||
Fixed asset basis | (110.8) | (117.8) | ||
Intangible basis | (123.7) | (127.2) | ||
Landfill and environmental remediation liabilities | (109.8) | (113.8) | ||
Other | (3.1) | (5.4) | ||
Deferred tax liabilities | (347.4) | (364.2) | ||
Net deferred tax liability | $ (139) | $ (155.3) |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of beginning and ending amount of gross unrecognized tax benefits | |||
Balance at January 1, | $ 6.2 | $ 6.2 | $ 6.2 |
Additions based on tax positions of prior years | 0.5 | 0 | 0 |
Additions based on tax positions of current year | 0.6 | 0 | 0 |
Balance at December 31, | $ 7.3 | $ 6.2 | $ 6.2 |
Fair Value of Financial Inst100
Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value Measurement | Recurring | ||
Recurring fair value measurements | ||
Cash and cash equivalents | $ 0.6 | $ 1 |
Restricted cash | 0.2 | |
Derivative instruments - Asset position | 0.2 | 2.7 |
Derivative instruments - Liability position | (16.2) | (27.3) |
Total recurring fair value measurements, assets (liabilities) | (15.4) | (23.4) |
Fair Value Measurement | Level 1 | Recurring | ||
Recurring fair value measurements | ||
Cash and cash equivalents | 0.6 | 1 |
Restricted cash | 0.2 | |
Derivative instruments - Asset position | 0 | 0 |
Derivative instruments - Liability position | 0 | 0 |
Total recurring fair value measurements, assets (liabilities) | 0.6 | 1.2 |
Fair Value Measurement | Level 2 | Recurring | ||
Recurring fair value measurements | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | |
Derivative instruments - Asset position | 0.2 | 2.7 |
Derivative instruments - Liability position | (16.2) | (27.3) |
Total recurring fair value measurements, assets (liabilities) | (16) | (24.6) |
Fair Value Measurement | Level 3 | ||
Recurring fair value measurements | ||
Derivative instruments - Liability position | 0 | |
Fair Value Measurement | Level 3 | Recurring | ||
Recurring fair value measurements | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | |
Derivative instruments - Asset position | 0 | 0 |
Derivative instruments - Liability position | 0 | |
Total recurring fair value measurements, assets (liabilities) | 0 | 0 |
Total Gains (Losses) | ||
Recurring fair value measurements | ||
Derivative instruments - Liability position | 0 | |
Total Gains (Losses) | Recurring | ||
Recurring fair value measurements | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | |
Derivative instruments - Asset position | 0 | 0 |
Derivative instruments - Liability position | 0 | |
Total recurring fair value measurements, assets (liabilities) | 0 | 0 |
Carrying Value | Recurring | ||
Recurring fair value measurements | ||
Cash and cash equivalents | 0.6 | 1 |
Restricted cash | 0.2 | |
Derivative instruments - Asset position | 0.2 | 2.7 |
Derivative instruments - Liability position | (16.2) | (27.3) |
Total recurring fair value measurements, assets (liabilities) | $ (15.4) | $ (23.4) |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Surety bonds and letters of credit facility outstanding | $ 709 | $ 705.9 |
Purchase price obligation, payment of net revenue percentage | 6.00% |
Restructuring - Additional Info
Restructuring - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 0 | $ 4.6 | $ 10 |
Midwest | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance costs | 0.4 | ||
Lease termination costs | 0.6 | 1.7 | |
Relocation cost | 2.3 | ||
East | |||
Restructuring Cost and Reserve [Line Items] | |||
Lease termination costs | 0.4 | 0.6 | |
Relocation cost | 0.3 | ||
South | |||
Restructuring Cost and Reserve [Line Items] | |||
Lease termination costs | 0.2 | 0.3 | |
Relocation cost | 0.8 | ||
Other expenses | 0.3 | ||
Corporate | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance costs | $ 1.6 | 2.3 | |
Employee Severance and Benefits Restructuring | Midwest | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 2.5 |
Restructuring - Schedule of Res
Restructuring - Schedule of Restructuring Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restructuring and Related Activities [Abstract] | |||
Restructuring charges | $ 0 | $ 4.6 | $ 10 |
Total pre-tax and restructuring charges | $ 0 | $ 4.6 | $ 10 |
Restructuring - Schedule of 104
Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restructuring Reserve [Roll Forward] | |||
Beginning balance | $ 5.4 | $ 6.4 | $ 5.1 |
Expense | 0 | 4.6 | 10 |
Ending balance | 2.2 | 5.4 | 6.4 |
Severance and Relocation | |||
Restructuring Reserve [Roll Forward] | |||
Cash expenditures | (2.7) | (5.1) | (7.7) |
Other | |||
Restructuring Reserve [Roll Forward] | |||
Cash expenditures | $ (0.5) | $ (0.5) | $ (1) |
Segment and Related Informat105
Segment and Related Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2015Segment | |
Segment Reporting [Abstract] | |
Number of operating segments | 3 |
Number of reportable operating segments | 3 |
Segment and Related Informat106
Segment and Related Information - Summary of Financial Information Concerning Reportable Segments (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Services Revenue | $ 349.5 | $ 361.3 | $ 355.2 | $ 330.4 | $ 353.7 | $ 368.1 | $ 359.9 | $ 321.3 | $ 1,396.4 | $ 1,403 | $ 1,319.1 |
Operating Income (Loss) | 24.9 | $ 32.5 | $ 13.7 | $ 24 | 19.3 | $ 25.8 | $ 16 | $ 8.3 | 95.1 | 69.4 | 22.1 |
Depreciation and Amortization | 259.1 | 271.4 | 278.9 | ||||||||
Capital Expenditures | 179.7 | 196.4 | 158.1 | ||||||||
Total Assets | 3,422.3 | 3,489.5 | 3,422.3 | 3,489.5 | 3,554.2 | ||||||
Operating Segments | South | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Services Revenue | 488.7 | 493.7 | 475.4 | ||||||||
Operating Income (Loss) | 66.9 | 72.2 | 66.4 | ||||||||
Depreciation and Amortization | 73.2 | 70.3 | 79 | ||||||||
Capital Expenditures | 52.1 | 52.3 | 63.2 | ||||||||
Total Assets | 1,152.4 | 1,188.9 | 1,152.4 | 1,188.9 | 1,216 | ||||||
Operating Segments | East | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Services Revenue | 366.3 | 364.3 | 331.1 | ||||||||
Operating Income (Loss) | 25 | 8.7 | 7.7 | ||||||||
Depreciation and Amortization | 74 | 85.1 | 78.7 | ||||||||
Capital Expenditures | 46.4 | 63.7 | 29.2 | ||||||||
Total Assets | 791 | 810.7 | 791 | 810.7 | 802.8 | ||||||
Operating Segments | Midwest | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Services Revenue | 541.5 | 545.2 | 512.6 | ||||||||
Operating Income (Loss) | 61.1 | 51.2 | 39.6 | ||||||||
Depreciation and Amortization | 103.8 | 108.1 | 112.6 | ||||||||
Capital Expenditures | 76.2 | 73.1 | 53.8 | ||||||||
Total Assets | 1,447.3 | 1,437.3 | 1,447.3 | 1,437.3 | 1,460.6 | ||||||
Corporate | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Services Revenue | (0.1) | (0.2) | 0 | ||||||||
Operating Income (Loss) | (57.9) | (62.7) | (91.6) | ||||||||
Depreciation and Amortization | 8.1 | 7.9 | 8.6 | ||||||||
Capital Expenditures | 5 | 7.3 | 11.9 | ||||||||
Total Assets | $ 31.6 | $ 52.6 | $ 31.6 | $ 52.6 | $ 74.8 |
Supplemental Cash Flow Infor107
Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Supplemental Cash Flow Elements [Abstract] | |||
Cash paid for interest | $ 116.4 | $ 119.7 | $ 119.1 |
Cash paid for taxes | $ 2.4 | $ 3.2 | $ 0.6 |
Accumulated Other Comprehens108
Accumulated Other Comprehensive Income - Summary of Changes in Balances of Each Component of Accumulated Other Comprehensive Income, Net of Tax (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | $ 1.5 | $ 2.5 | $ (2.2) |
Other comprehensive income (loss) before reclassifications, net of tax | (1.5) | (1) | 2.3 |
Amounts reclassified from accumulated other comprehensive income | 2.4 | ||
Net current period other comprehensive income (loss) | (1.5) | (1) | 4.7 |
Ending balance | $ 0 | $ 1.5 | $ 2.5 |
Accumulated Other Comprehens109
Accumulated Other Comprehensive Income - Schedule of Derivative Gain (Loss) Recognized Out of Each Component of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Total before tax | $ (2) | $ (1.4) | $ 3.1 |
Tax (expense) benefit | 0.5 | 0.4 | (0.8) |
Net of tax | (1.5) | (1) | 2.3 |
Interest Rate Caps | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Total before tax | (2) | (1.4) | 2.6 |
Other | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Total before tax | $ 0 | $ 0 | $ 0.5 |
Quarterly Financial Data (Un110
Quarterly Financial Data (Unaudited) - Summary of Quarterly Results of Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Operating revenues | $ 349.5 | $ 361.3 | $ 355.2 | $ 330.4 | $ 353.7 | $ 368.1 | $ 359.9 | $ 321.3 | $ 1,396.4 | $ 1,403 | $ 1,319.1 |
Income from operations | 24.9 | 32.5 | 13.7 | 24 | 19.3 | 25.8 | 16 | 8.3 | 95.1 | 69.4 | 22.1 |
Consolidated net (loss) income | $ (8.8) | $ (5.5) | $ (8.5) | $ (10.8) | 24.1 | $ (6.5) | $ (15.4) | $ (19.3) | |||
Loss on commodity future contracts | 27.3 | (11.1) | 27.3 | 0 | |||||||
Valuation allowance release related to a legal entity restructuring project | $ 51.4 | $ 0.9 | $ 51.4 | $ 0 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - USD ($) $ in Millions | 1 Months Ended | 2 Months Ended | 12 Months Ended | ||
Feb. 29, 2016 | Jan. 31, 2016 | Mar. 04, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Subsequent Event [Line Items] | |||||
Return of capital to parent | $ 7.5 | $ 9 | |||
Subsequent Event | |||||
Subsequent Event [Line Items] | |||||
Return of capital to parent | $ 9.6 | ||||
Subsequent Event | Equity Securities | |||||
Subsequent Event [Line Items] | |||||
Write off of deferred offering cost | $ 2.2 | ||||
Revolving Credit Facility | Subsequent Event | |||||
Subsequent Event [Line Items] | |||||
Amount borrowed from Revolving Credit Facility, net of repayments | $ 25 |